Tax Reform — Efficiency

– in the House of Commons on 6 April 1965.

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  • Corporation Tax: Domestic Aspects
  • Main Object (1 speech)

    I now turn to Corporation Tax. The Corporation Tax is the most fundamental of the tax reforms in this Budget. It is a new landmark in our fiscal history, such as we have rarely been able to...

  • Rate (1 speech)

    First, the rate. I have said before that it is not my intention to throw new burdens upon industry, but rather to redistribute the existing burden in a way more likely to meet the economic needs...

  • Investment Allowances (1 speech)

    Many of the representations I have received have pointed out that at a figure of 35 to 40 per cent. the reduction in the rate of tax charged on company profits will mean that the value of...

  • Inter-Company Dividends: Franking (1 speech)

    I now turn to a question on which have received many representations, namely, the treatment of dividends received by one United Kingdom company from another. A company will be charged to...

  • Charities (1 speech)

    Fears have been expressed that the introduction of the Corporation Tax will prejudice the position of charities. At present, contributions by companies to charities are not in general allowable...

  • Dividends Paid Out of Past Profits (1 speech)

    Another problem to which many of the representations I have received have drawn attention is the payment of dividends out of past profits. In general, companies will be required to account for...

  • Closely Controlled Companies (1 speech)

    As hon. Members will know, there are provisions in the existing tax system to deal with avoidance of Surtax through the retention of profits by closely controlled companies. The temptation to...