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Co-Operative Societies (Taxation)

Volume 415: debated on Thursday 1 November 1945

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asked the Chancellor of the Exchequer whether his attention has been drawn to the fact that in recent years the Co-operative Wholesale Society have been acquiring in different parts of the country hotels, restaurants, cinemas and chemist shops; and to what extent he estimates that the revenue will suffer so far as Income Tax on profits is concerned by this change of ownership.

Co-operative societies are taxed on the whole of their profits in the same way as other trading concerns.