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Treasury

Volume 645: debated on Tuesday 17 July 2018

Draft Double Taxation Relief (Mauritius) Order 2018

Draft Double Taxation Relief and International Tax Enforcement (Cyprus) Order 2018

The following is an extract from the First Delegated Legislation Committee on 18 June 2018.

My first specific question is, assuming that the tax treaty comes into force fairly shortly, in what tax year would the new arrangements arise? In other words, would these veterans be charged at the new rate of 20% or more in the current tax year—2018-19—or would it only cut in, as it were, in a full tax year, in 2019-20? For anybody who is looking to plan, that is an important piece of information that, understandably, they want to know.

My right hon. Friend asked in which tax year the measures would kick in, and the answer is in 2019-20 at the earliest.

[Official Report, First Delegated Legislation Committee, 18 June 2018, c. 8.]

Letter of correction from Mel Stride:

An error has been identified in my response to my right hon. Friend the Member for Rayleigh and Wickford (Mr Francois).

The correct response should have been:

My right hon. Friend asked in which tax year the measures would kick in, and the answer is from 1 January 2019.