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Profits Distribution (Income Tax)

Volume 415: debated on Thursday 8 November 1945

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asked the Chancellor of the Exchequer whether he is aware that certain multiple grocery firms distribute profits to their customers, in some cases at a definite proportion of is. in the £ on purchases; and whether these distributions of profits are subjected to Income Tax.

Any rebate granted by a trader to a customer in respect of his purchases is deductible in computing the traders profits and is not income of the customers.