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FINANCE ACT 1917
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ARRANGEMENT OF SECTIONS.
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Part I.
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Customs and Excise.
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Section.
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1.
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Continuance of Customs duties imposed under 5 & 6 Geo. 5. c. 89.
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2.
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Continuance of Excise duties imposed under 5 & 6 Geo. 5. c. 89.
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3.
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Increase of entertainments duty.
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4.
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Continuance of additional duties on tobacco at double rate.
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5.
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Effect of repealof s. 2 of 2 & 3 Geo. 5. c. 8. by 5 & 6 Geo. 5. c 89.
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6.
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Power to reduce minimum weight of package of imported tobacco.
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7.
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Reduction of licence duty in respect of the restriction on the output and delivery of intoxicating liquor.
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8.
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Relief from duty on liquor licences where business cannot be carried on.
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9.
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Repayment of half duty on surrender of motor car licence for current year.
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Part II.
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Income Tax.
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10.
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Income tax for 1917–18.
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11.
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Continuance of certain relief from income tax.
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12.
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Continuance of relief under 5 Geo. 5. c. 7. s. 13.
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13.
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Relief from income tax in respect of adopted children.
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14.
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Relief from income tax in respect of income accumulated under trusts.
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15.
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Application of s. 22 of the Finance Act, 1915, to interest on advances by members of stock exchages and discount houses.
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16.
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Repayment of income tax on sums deduced from profits.
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17.
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Provisions as to interest free from income tax.
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18.
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Provisions as to interest payable without deduction of income tax.
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19.
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Returns as to interest, &c. paid without deduction of income tax.
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Part III.
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Excess Profits Duty.
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20.
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Continuance and increase of rate of excess profits duty.
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21.
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Increase of rate of excess mineral rights duty.
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22.
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Special provisions as to deficiencies and losses of shipping concerns.
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23.
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Relief in respect of Colonial excess profits duty.
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24.
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Further provisions with respect to munitions Exchequer payments.
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25.
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Additional powers of reference to referees.
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26.
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Amendments of law as respects accounting periods ending after December 31st, 1916.
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27.
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Apportionment of accounting periods and years.
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28.
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Interpretation.
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Part IV.
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Death Duties.
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29.
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Remission of death duties in cases of members of the crews of vessels killed in war.
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Part V.
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Stamps.
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30.
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Exemption from stamp duty of powers of attorney for the sale, &c. of Government stock.
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Part VI.
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National Debt and Loans.
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31.
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Suspension of new sinking fund.
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32.
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Depreciation fund.
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33.
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Payment of expenses of redemption of war loan securities.
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34.
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Power to transfer war stock and bonds in satisfaction of death duties and excess profits duties.
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35.
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Power of trustees, &c. to borrow and invest in war securities.
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36.
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Power to abolish certain fees.
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37.
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Provisions facilitating dealings with Government stock.
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Part VII.
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General.
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38.
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Construction and short title.
Schedules.
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CHAPTER 31.
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An Act to grant certain duties of Customs and Inland Revenue (including Excise), to alter other duties, and to amend the Law relating to Customs and Inland Revenue (including Excise) and the National Debt, and to make further provision in connection with Finance. [2nd August 1917.]
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Most Gracious Sovereign,
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We, Your Majesty's most dutiful and loyal subjects the Commons of the United Kingdom of Great Britain and Ireland in Parliament assembled, towards raising the necessary supplies to defray Your Majesty's public expenses, and making an addition to the public revenue, have freely and voluntarily resolved to give and grant unto Your Majesty the several duties hereinafter mentioned; and do therefore most humbly beseech Your Majesty that it may be enacted, and be it enacted by the King's Most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:
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