In the United States the tax on distilled spirits was repealed in 1817, but was reimposed at the outbreak of the Civil War in 1861, and it was not until 1907 that denatured alcohol became tax-free for general purposes.
By the same law, besides other less important provisions, the amount of the bank's tax-free issue of notes was raised from 400 to 600 millions of kronen, and the conditions formerly attached to the issue of 10 and 20 kronen notes were sensibly relaxed, A 4% bank-rate had been uninterruptedly in force from May 8 1908 to Oct.
Notwithstanding the fact that the banking law raised the tax-free note issue in 1911 from 400 to 600 millions of kronen, in 1913 the bank was unable to avoid incurring tax payments for notes issued in excess of the amount allowed free of tax, a state of affairs which had no parallel in the bank's history.
Sometimes a municipality takes on itself to construct and maintain a caravanserai; but in any case the institution is tax-free, and its revenues are inalienable.
Students accepted onto the scheme will spend several days on placements in schools and will receive a tax-free bursary.
