Mr. GRAHAM:

I understand that exemption from Income Tax is granted by the United States of America under the provisions of Section 213 (8) of the Revenue Act, 1921, in respect of shipping of the following countries, which either impose no Income Tax or grant a reciprocal exemption, namely

• Argentine Republic.
• Bulgaria.
• Denmark.
• Egypt.
• Iceland.
• Netherlands.
• Norway.
• Paraguay.
• Persia.
• St. Lucia.
• Siam,
• Sweden.
• Venezuela.

Negotiations in respect of the reciprocal exemption from Income Tax of British and United States shipping are still proceeding.