Russian Trading Companies.

Oral Answers to Questions — Income Tax. – in the House of Commons on 18th June 1931.

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Photo of Mr Carlyon Bellairs Mr Carlyon Bellairs , Maidstone

49.

asked the Chancellor of the Exchequer whether, seeing that a general commission agent is liable to be assessed only on the profits which accrue on his commission while a particular agent must pay Income Tax on all profits resulting from sales, he can state why such Soviet State companies as Arcos, Centrosoyos, and Russian Oil Products, numbering 18 in all, are favoured by being classed as general commission agents when they are in fact particular agents of the Soviet Russian States?

Photo of Mr Frederick Pethick-Lawrence Mr Frederick Pethick-Lawrence , Leicester West

There is no differentiation in favour of such companies as those named by the hon. and gallant Member, and there has been no change in their treatment, since they were first set up. In so far, how- ever, as the profits earned through their agency are the profits of the Soviet Government, liability does not arise, and in this connection I would refer the hon. and gallant Member to the reply which I gave to a question asked by him on the 20th May.