Author: Walter Edward Snelling

Publisher: Forgotten Books

Published: 2018-02-21

Total Pages: 356

ISBN-13: 9780666049490

Excerpt from Excess Profits (Including Excess Mineral Rights) Duty and Levies Under the Munitions of War Acts: Incorporating the Provisions of the Income Tax Acts Made Applicable by Statute and by Regulation, Also the Regulations of the Commissioners of Inland Revenue and of the Minister of Munitions So far as the subjects of this book are concerned, the Finance Act, 1917, is remarkable for the further increase in the rate of Excess Profits Duty and the cessation of the Munitions Levy. The transfer, to the Inland Revenue Department, of jurisdiction as regards the substantial outstanding liabilities of Munitions Levy has resulted in the issue of further regulations governing procedure. For the rest, the Act restricts the allowances for deficiencies arising in shipping concerns, and attempts in half-a-dozen directions to meet criticisms of the unfair incidence of the tax under the earlier Acts. This Act, the third dealing with Excess Profits Duty, illustrates a fact not generally recognised, that the complexity of a tax must vary directly with its equity. Those who already find the Excess Profits Duty laws confusing may perhaps discover in the Summary of Rules in Chapter XVI a fairly complete guide to those laws as well as to the contents of this book. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.