the tax. In particular it seems difficult for the
went into
Ordinance to catch a firm which was liquidated
tean
prior to 1st April 1947, the proposed date from
which the Ordinance is to become effective. It
may be more simple to catch a firm which liquidates
itself after 1st April 1947 as it is in existence
when the Ordinance itself is in force and presumably
a special section could be introduced making such a
firm liable in respect of the 1946/7 profits, in
spite of Section 19 (5), if the liquidation is
voluntary.
I should, however, be grateful for any advice
you may be able to give us on this point in the
light of your experience of Colonial Income Tax
legislation.
Yours sincerely,
(H. PALMER)
256