NEW FINANCE PLAN
ADVANCE PAYMENTS OF TAXES. LATEST GERMAN DECREE. (Received This Day, 10.52 a.m.) BERLIN. March 24. A new finance plan is announced providing for advance payments of future taxes by trade and industry, with the object of enabling the Government to finance extraordinary expenditure. Non-interest-bearing tax bonds, the taking up of which is obligatory, will be issued in recognition of advance payments. Herr Rheinhardt announces a plan to finance provinces, towns, railways, posts, and motor roads. The decreased revenue resulting will be compensated by increased income tax and decreasing public expenditure Reich loans will be issued only as exceptions. Delivery bonds will be abolished in May, 1939. Tax bonds are being issued in two series, the first of which, acceptable aface value in payment of taxes is due six months after issue but the longer they are held the greater will be the tax reduction. Industry holding bond'for ten months of one economic year will receive a tax reduction of twenty per cent. The second series is accepfable for the payment of taxes due after three years at 112 per cent of their face value. The first is expected to be issued on May 1.
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Wairarapa Times-Age, 25 March 1939, Page 7
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197NEW FINANCE PLAN Wairarapa Times-Age, 25 March 1939, Page 7
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