Only Big British Firms To Be Affected London, June 20.
A White Paper revealing the rate of taxation on profits made by arms dealers was released here today. The tax will apply only to those arms merchants whose yearly turnover exceeds £200,600.
The rate is 60 per cent. on the increased profit made during the fiscal year commencing on March 31, 1929. A rebate of 8 per cent. for companies and 10 per cent, for individuals will be allowed if their capital has been increased since July 1, 1936, or if their businesses have been created since that date.—Havas.
Text read from the printed page and cleaned; old type leaves the occasional error.