TAX RISE AND BUS OPERATORS
11th July 1958, Page 36
11th July 1958
Page 36
Page 36, 11th July 1958
— TAX RISE AND BUS OPERATORS
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AN increase in the profits tax from 3 per cent. to 10 per cent. would badly hit bus undertakings. Mr. R. GreAham Cooke (Cons., Twickenham) said in the House of Commons last week during the Committee stage of the Finance Bill. He added that one company's liability to tax would rise from £157,000 to £525,000 a year.
Mr. R. Maudling, Paymaster-General. explained that profits tax would apply to trading profits and not non-trading profits.