Withholding Tax Proposal

House of Lords written question – answered on 11th January 2000.

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Photo of Lord Stoddart of Swindon Lord Stoddart of Swindon Independent Labour

asked Her Majesty's Government:

Further to the comment by Lord McIntosh of Haringey on 2 December (H.L. Deb., col. 915), whether in September 1998 the Government indicated that the threat of a withholding tax was resulting in a flow of money away from the European Union, particularly from London.

Photo of Lord McIntosh of Haringey Lord McIntosh of Haringey Deputy Chief Whip (House of Lords), HM Household, Captain of the Queen's Bodyguard of the Yeomen of the Guard (HM Household) (Deputy Chief Whip, House of Lords)

The Government's position on this directive was set out in its paper of September 1999 entitled International bonds and the draft Directive on Taxation of Savings, a copy of which is available in the Library.

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