Page:United States Statutes at Large Volume 47 Part 2.djvu/999

DOt!BLE INCOME TAX-SHIPPING PROFITS-GREAT BRITAIN. 2589 tion of shipping business are subjected to both British and United States income taxes, I am instructed to inform you that the Board of Inland Revenue of my government agree with the conditions and limitations specified in the note. My government have accordingly promulgated an Order in Coun- cil dated November 7th, 1924, takmg effect from that date so far as Great Britain is concerned, and I expect to be able to transmit to you a copy of the Order at an early date. I am to add that the Irish Free State in common with the other irish Free State, etc., British Dominions is not to be considered as affected by this measure. not Included. I have the honour to be with the highest consideratIOn, Sir, Your most obedient, humble servant, ESME HOWARD THE HONOURABLE, CHARLES E. HUGHES, Secretary oj State oj the United States, · Washington, D. O . The British Ambassador to the Secretary oj State No. 1148. BRITISH EMBASSY, WASHINGTON, D. C ., November 26th, 192J,.. SIR: With reference to my Note of November 18th, I now have the C!~:Jsh honour to transmit herewith for your information copy of an Order . of His Majesty the King in Council, dated November 7th, 1924, and taking effect from that date, regarding the arrangement with your government for the reciprocal exemption of shipping profits from mcome tax. I have the honour to be with the highest consideration, Sir, Your most obedient, humble servant, THE HONOURABLE CHARLES E. HUGHES, SecretaTry 0/ State of the United States, nash'mgton, D. O. [Enclosure) ESME HOWARD AT THE COURT AT BUCKINGHAM PALACE. The 7th ooy oj November, 192J,.. PRESENT, THE KINO'S MOST EXCELLENT MAJESTY IN COUNCIL. WHEREAS it is provided by': subsection (1) of section eighteen of the Finance Act, 1923, that If His Majesty in Council is pleased to declare- (a) that any profits or gains arising from the business of ship- ping which are chargeable to British income tax are also chargeable to income tax payable under the law in force in any foreign state; and (b) that arran~ements, as specified in the declaration, have been made Wlth the government of that foreign state with a view to the granting of relief in cases where such profits and gains are chargeable both to British income tax and to the income tax payable in the foreign state; then, unless and until the declaration is revoked by His Majesty in Council, the arrangements specified therein shall, so far as they relate 30,,1 o-33-PT 2 -62 Order in