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1672907

	registered interest
	date	24/11/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent assessment he has made of the implications for his policies of the planned timetable for the implementation of OECD pillar two in (a) the US, (b) China, (c) India and (d) the EU.
	tabling member constituency	Ealing, Southall
	tabling member printed	Mr Virendra Sharma
	uin	3622
	answer	answer is ministerial correction date of answer 29/11/2023 answer text <p>The UK is implementing the G20/OECD Pillar 2 rules from 31 December 2023. A considerable number of countries join the UK in doing so. This includes EU Member States, where a Directive mandates all Member States except the very smallest must implement for 31 December 2023.</p><p> </p><p>I understand that China and India have not yet announced their plans on Pillar 2. The US administration have committed to align their policy with Pillar 2. These countries are all members of the ‘Inclusive Framework’ of countries and jurisdictions that meet, discuss and agree the rules and who must accept the rules as they are applied by those that have introduced them.</p><p> </p><p>Pillar 2 is a global approach to disincentivising multinational profit shifting and levelling the playing field on tax competition, and the rules mean that not every jurisdiction is required to implement them to achieve this.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 29/11/2023 15:34:19 answering member 4407 label Biography information for Nigel Huddleston
	tabling member	1604 label Biography information for Mr Virendra Sharma

1671741

	registered interest
	date	21/11/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what his Department's planned timescale is for the implementation of OECD Pillar 2 rules.
	tabling member constituency	Ealing, Southall
	tabling member printed	Mr Virendra Sharma
	uin	2838
	answer	answer is ministerial correction date of answer 27/11/2023 answer text <p>The government has legislated for the Pillar 2 Multinational-Top up Tax and Domestic Top-up Tax to take effect from accounting periods beginning on or after 31 December 2023.</p><p> </p><p>As announced at Autumn Statement, the government is implementing the Undertaxed Profits Rule for accounting periods beginning on or after 31 December 2024.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 27/11/2023 12:27:58 answering member 4407 label Biography information for Nigel Huddleston
	tabling member	1604 label Biography information for Mr Virendra Sharma

1582240

	registered interest
	date	31/01/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, with reference to the Autumn Statement 2022, pg. 60, Line 33, what calculations his Department used to establish the figure of £2.11 billion of revenue in 2024-25 from implementation of the global minimum corporate tax reforms; and if he will place a copy of those calculations in the Library of the House.
	tabling member constituency	Orpington
	tabling member printed	Gareth Bacon
	uin	136744
	answer	answer is ministerial correction date of answer 08/02/2023 answer text <p>The process for estimating the Exchequer yield from implementation of Pillar 2 policy in the UK can be found in the Autumn Budget 2022: Policy Costings, available at <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1118364/Autumn_Statement_2022_Policy_Costings_.pdf" target="_blank">https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1118364/Autumn_Statement_2022_Policy_Costings_.pdf</a>.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 08/02/2023 16:26:48 answering member 4399 label Biography information for Victoria Atkins
	tabling member	4798 label Biography information for Gareth Bacon

1582242

	registered interest
	date	31/01/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, with reference to the policy paper entitled Multinational top-up tax: UK adoption of Organisation for Economic Co-operation and Development Pillar 2 published on 20 July 2022, by what calculations the estimate of an ongoing annual administrative burden on UK businesses of £8.2m was arrived at; and if he will place a copy of those calculations in the library of the House.
	tabling member constituency	Orpington
	tabling member printed	Gareth Bacon
	uin	136746
	answer	answer is ministerial correction date of answer 08/02/2023 answer text <p>Pillar 2 rules: UK implementation of global minimum corporate tax reforms from 31 December 2023 was announced at Autumn Budget 2022 and is projected to raise over £8.9 billion over the next 5 years.</p><p> </p><p>The £8.2 million average reoccurring annual impact cost was calculated based on HMRC’s Standard Cost Model methodology for determining the administrative impacts of compliant, efficient businesses complying with new measures.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 08/02/2023 16:27:01 answering member 4399 label Biography information for Victoria Atkins
	tabling member	4798 label Biography information for Gareth Bacon

1582243

	registered interest
	date	31/01/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether it is his policy that Pillar 2 of the Organisation for Economic Cooperation and Development’s Base Erosion and Profit Shifting 2.0 proposals will not become operational in the UK if international agreement is not reached on Pillar 1.
	tabling member constituency	Orpington
	tabling member printed	Gareth Bacon
	uin	136747
	answer	answer is ministerial correction date of answer 07/02/2023 answer text <p>At Autumn Statement 2022, the Government confirmed that Pillar 2 will be implemented in the UK from 31 December 2023. This can be viewed on page 51 of the Autumn Statement document on gov.uk <a href="https://www.gov.uk/government/publications/autumn-statement-2022-documents" target="_blank"><em>https://www.gov.uk/government/publications/autumn-statement-2022-documents</em></a></p><p> </p><p>Alongside this the Government remains focused on delivering a Multilateral Convention on Pillar 1 by mid-2023, in line with the aim set out in the OECD’s Progress Report on Pillar 1 in July 2022, with the aim of that agreement then coming into force as soon as possible.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins grouped question UIN 136522 question first answered 07/02/2023 19:36:02 answering member 4399 label Biography information for Victoria Atkins
	tabling member	4798 label Biography information for Gareth Bacon

1582365

	registered interest
	date	31/01/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will publish the calculations by which an estimate of £2.11bn of revenue in 2024-25 from implementation of the global minimum corporate tax reforms was arrived at.
	tabling member constituency	Wimbledon
	tabling member printed	Stephen Hammond
	uin	136517
	answer	answer is ministerial correction date of answer 06/02/2023 answer text <p>The number of Multinational Enterprises which have headquarters in the UK is 387. The latest information can be found in <a href="https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.oecd.org%2Ftax%2Ftax-policy%2Fcorporate-tax-statistics-fourth-edition.pdf&amp;data=05%7C01%7Cpetr.simecek%40hmrc.gov.uk%7C34df251e06a247dc99b708db044fb466%7Cac52f73cfd1a4a9a8e7a4a248f3139e1%7C0%7C0%7C638108512587151294%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=LsJnqOya44BpwAQRRQWFf5%2BKcQUcdD7K9D7Dnhdusdw%3D&amp;reserved=0" target="_blank"><em>https://www.oecd.org/tax/tax-policy/corporate-tax-statistics-fourth-edition.pdf</em></a><em>.</em> The number of multinational enterprises which have operations in the UK, but are headquartered outside of the UK is 4,000.</p><p> </p><p>The process for estimating the Exchequer yield from implementation of Pillar 2 policy in the UK can be found in the Autumn Budget 2022: Policy Costings, available here: <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1118364/Autumn_Statement_2022_Policy_Costings_.pdf" target="_blank"><em>https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1118364/Autumn_Statement_2022_Policy_Costings_.pdf</em></a><em>.</em></p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins grouped question UIN 136518 136521 question first answered 06/02/2023 18:34:15 answering member 4399 label Biography information for Victoria Atkins
	tabling member	1585 label Biography information for Stephen Hammond

1582366

	registered interest
	date	31/01/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what account was taken of potential behaviour change in estimating revenue arising from implementation of the global minimum corporate tax reforms.
	tabling member constituency	Wimbledon
	tabling member printed	Stephen Hammond
	uin	136518
	answer	answer is ministerial correction date of answer 06/02/2023 answer text <p>The number of Multinational Enterprises which have headquarters in the UK is 387. The latest information can be found in <a href="https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.oecd.org%2Ftax%2Ftax-policy%2Fcorporate-tax-statistics-fourth-edition.pdf&amp;data=05%7C01%7Cpetr.simecek%40hmrc.gov.uk%7C34df251e06a247dc99b708db044fb466%7Cac52f73cfd1a4a9a8e7a4a248f3139e1%7C0%7C0%7C638108512587151294%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=LsJnqOya44BpwAQRRQWFf5%2BKcQUcdD7K9D7Dnhdusdw%3D&amp;reserved=0" target="_blank"><em>https://www.oecd.org/tax/tax-policy/corporate-tax-statistics-fourth-edition.pdf</em></a><em>.</em> The number of multinational enterprises which have operations in the UK, but are headquartered outside of the UK is 4,000.</p><p> </p><p>The process for estimating the Exchequer yield from implementation of Pillar 2 policy in the UK can be found in the Autumn Budget 2022: Policy Costings, available here: <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1118364/Autumn_Statement_2022_Policy_Costings_.pdf" target="_blank"><em>https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1118364/Autumn_Statement_2022_Policy_Costings_.pdf</em></a><em>.</em></p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins grouped question UIN 136517 136521 question first answered 06/02/2023 18:34:15 answering member 4399 label Biography information for Victoria Atkins
	tabling member	1585 label Biography information for Stephen Hammond

1582369

	registered interest
	date	31/01/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, with reference to HM Revenue and Customs' policy paper ‘Multinational top-up tax: UK adoption of Organisation for Economic Co-operation and Development Pillar 2, published on 20 July 2022, if he will publish the calculations behind the estimate of £8.2m annual costs to businesses affected by the measure.
	tabling member constituency	Wimbledon
	tabling member printed	Stephen Hammond
	uin	136520
	answer	answer is ministerial correction date of answer 08/02/2023 answer text <p>The £8.2 million average reoccurring annual impact cost was calculated based on HMRC’s Standard Cost Model methodology for determining the administrative impacts of compliant, efficient businesses complying with new measures.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 08/02/2023 16:28:20 answering member 4399 label Biography information for Victoria Atkins
	tabling member	1585 label Biography information for Stephen Hammond

1582370

	registered interest
	date	31/01/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, how many multinational enterprises with global revenues in excess of 750 million euros per annum conduct business activities in the UK.
	tabling member constituency	Wimbledon
	tabling member printed	Stephen Hammond
	uin	136521
	answer	answer is ministerial correction date of answer 06/02/2023 answer text <p>The number of Multinational Enterprises which have headquarters in the UK is 387. The latest information can be found in <a href="https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.oecd.org%2Ftax%2Ftax-policy%2Fcorporate-tax-statistics-fourth-edition.pdf&amp;data=05%7C01%7Cpetr.simecek%40hmrc.gov.uk%7C34df251e06a247dc99b708db044fb466%7Cac52f73cfd1a4a9a8e7a4a248f3139e1%7C0%7C0%7C638108512587151294%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=LsJnqOya44BpwAQRRQWFf5%2BKcQUcdD7K9D7Dnhdusdw%3D&amp;reserved=0" target="_blank"><em>https://www.oecd.org/tax/tax-policy/corporate-tax-statistics-fourth-edition.pdf</em></a><em>.</em> The number of multinational enterprises which have operations in the UK, but are headquartered outside of the UK is 4,000.</p><p> </p><p>The process for estimating the Exchequer yield from implementation of Pillar 2 policy in the UK can be found in the Autumn Budget 2022: Policy Costings, available here: <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1118364/Autumn_Statement_2022_Policy_Costings_.pdf" target="_blank"><em>https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1118364/Autumn_Statement_2022_Policy_Costings_.pdf</em></a><em>.</em></p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins grouped question UIN 136517 136518 question first answered 06/02/2023 18:34:15 answering member 4399 label Biography information for Victoria Atkins
	tabling member	1585 label Biography information for Stephen Hammond

1582371

	registered interest
	date	31/01/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether international agreement on Pillar 1 of the Organisation for Economic Cooperation and Development’s base erosion and profit shifting 2.0 proposals is necessary for Pillar 2 to become operational in the UK..
	tabling member constituency	Wimbledon
	tabling member printed	Stephen Hammond
	uin	136522
	answer	answer is ministerial correction date of answer 07/02/2023 answer text <p>At Autumn Statement 2022, the Government confirmed that Pillar 2 will be implemented in the UK from 31 December 2023. This can be viewed on page 51 of the Autumn Statement document on gov.uk <a href="https://www.gov.uk/government/publications/autumn-statement-2022-documents" target="_blank"><em>https://www.gov.uk/government/publications/autumn-statement-2022-documents</em></a></p><p> </p><p>Alongside this the Government remains focused on delivering a Multilateral Convention on Pillar 1 by mid-2023, in line with the aim set out in the OECD’s Progress Report on Pillar 1 in July 2022, with the aim of that agreement then coming into force as soon as possible.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins grouped question UIN 136747 question first answered 07/02/2023 19:36:02 answering member 4399 label Biography information for Victoria Atkins
	tabling member	1585 label Biography information for Stephen Hammond

1349521

	registered interest
	date	22/07/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps his Department is taking to ensure that the global tax deal agreed at the recent G20 will be equitable for the Global South.
	tabling member constituency	Hornsey and Wood Green
	tabling member printed	Catherine West
	uin	38360
	answer	answer is ministerial correction date of answer 06/09/2021 answer text <p>It has been a longstanding UK priority to achieve a two-pillar solution to the challenges that digitisation creates for the international tax rules.</p><p>Pillar One will update profit allocation rules to ensure that the profits of large multinationals are taxed where their customers are located. Pillar Two will introduce a global minimum rate of corporation tax.</p><p>Securing and implementing a final agreement on this will help stabilise the international tax framework and ensure multinational businesses pay their fair share, with the right companies paying the right amount of tax in the right place.</p><p>The Government is delighted at the recent progress made on this important issue, with G7 agreement forming the basis for an historic agreement among over 130 members of the OECD Inclusive Framework.</p><p>The final details of an agreement are still subject to international negotiation and it would not be appropriate for the Government to provide detailed impact assessments.</p><p>However, by their nature, the proposals will benefit low income countries by expanding their taxing rights and reducing the incentive to shift profits away from such jurisdictions.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman grouped question UIN 38361 38362 question first answered 06/09/2021 15:17:36 answering member 3991 label Biography information for Jesse Norman
	tabling member	4523 label Biography information for Catherine West

1349522

	registered interest
	date	22/07/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what estimate his Department has made of the revenues that will be apportioned to each G20 country as a result of the global tax deal agreed on 10 July 2021 in Venice.
	tabling member constituency	Hornsey and Wood Green
	tabling member printed	Catherine West
	uin	38361
	answer	answer is ministerial correction date of answer 06/09/2021 answer text <p>It has been a longstanding UK priority to achieve a two-pillar solution to the challenges that digitisation creates for the international tax rules.</p><p>Pillar One will update profit allocation rules to ensure that the profits of large multinationals are taxed where their customers are located. Pillar Two will introduce a global minimum rate of corporation tax.</p><p>Securing and implementing a final agreement on this will help stabilise the international tax framework and ensure multinational businesses pay their fair share, with the right companies paying the right amount of tax in the right place.</p><p>The Government is delighted at the recent progress made on this important issue, with G7 agreement forming the basis for an historic agreement among over 130 members of the OECD Inclusive Framework.</p><p>The final details of an agreement are still subject to international negotiation and it would not be appropriate for the Government to provide detailed impact assessments.</p><p>However, by their nature, the proposals will benefit low income countries by expanding their taxing rights and reducing the incentive to shift profits away from such jurisdictions.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman grouped question UIN 38360 38362 question first answered 06/09/2021 15:17:36 answering member 3991 label Biography information for Jesse Norman
	tabling member	4523 label Biography information for Catherine West

1349523

	registered interest
	date	22/07/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps his Department will take in its negotiations to ensure that global revenues from both Pillar One and Pillar Two of the global tax deal agreed at the G20 will be apportioned to countries on the basis of the location of company employees, physical assets and sales to customers.
	tabling member constituency	Hornsey and Wood Green
	tabling member printed	Catherine West
	uin	38362
	answer	answer is ministerial correction date of answer 06/09/2021 answer text <p>It has been a longstanding UK priority to achieve a two-pillar solution to the challenges that digitisation creates for the international tax rules.</p><p>Pillar One will update profit allocation rules to ensure that the profits of large multinationals are taxed where their customers are located. Pillar Two will introduce a global minimum rate of corporation tax.</p><p>Securing and implementing a final agreement on this will help stabilise the international tax framework and ensure multinational businesses pay their fair share, with the right companies paying the right amount of tax in the right place.</p><p>The Government is delighted at the recent progress made on this important issue, with G7 agreement forming the basis for an historic agreement among over 130 members of the OECD Inclusive Framework.</p><p>The final details of an agreement are still subject to international negotiation and it would not be appropriate for the Government to provide detailed impact assessments.</p><p>However, by their nature, the proposals will benefit low income countries by expanding their taxing rights and reducing the incentive to shift profits away from such jurisdictions.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman grouped question UIN 38360 38361 question first answered 06/09/2021 15:17:36 answering member 3991 label Biography information for Jesse Norman
	tabling member	4523 label Biography information for Catherine West

1337301

	registered interest
	date	16/06/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps he is taking to ensure multinational companies pay tax in the countries they operate in.
	tabling member constituency	Crewe and Nantwich
	tabling member printed	Dr Kieran Mullan
	uin	17007
	answer	answer is ministerial correction date of answer 24/06/2021 answer text <p>OECD proposals to update the international tax framework have been under negotiation for a number of years and the UK has an established record of being at the forefront of these talks.</p><p> </p><p>The package being developed by the OECD includes two pillars; a change in the allocation of taxing rights over business profit, and a global minimum tax. That is something the UK strongly supports; the UK’s consistent position has been that it matters where tax is paid as well as the rate at which it is paid.</p><p> </p><p>On 5 June the G7 finance ministers, meeting in London as part of the UK’s G7 Presidency, confirmed their commitment to a solution containing both pillars. The Government is delighted the G7 has come together to back the proposals developed by the OECD to reform the international tax framework.</p><p> </p><p>Reaching final agreement on a two-pillar solution with the G20 and 139 members of the OECD Inclusive Framework would be a major multilateral achievement that introduces stability into the international tax landscape.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman grouped question UIN 17008 question first answered 24/06/2021 14:15:37 answering member 3991 label Biography information for Jesse Norman
	tabling member	4860 label Biography information for Dr Kieran Mullan

1332196

	registered interest
	date	10/06/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government, further to the recent G7 global taxation agreement, what plans they have to require (1) public country-by-country reporting for UK based multinationals, and (2) enhanced tax reporting, to increase transparency and better ascertain the tax liabilities of UK multinationals.
	tabling member printed	The Lord Bishop of St Albans
	uin	HL1023
	answer	answer is ministerial correction date of answer 23/06/2021 answer text <p>The Government is delighted to have secured G7 backing for the two-pillar solution being developed by the OECD to reform the international tax framework and the Government’s focus is on reaching final agreement with the G20 and OECD Inclusive Framework. A final agreement, when implemented, would help deal with the root of concerns about the taxation of multinationals, both as to where these corporations are taxed and as to the level at which they pay tax.</p><p> </p><p>As part of the Finance Act 2016, large corporations and multinational enterprises are already required to publish a tax strategy document, which outlines the company’s attitude towards tax planning and its approach towards its dealings with HMRC.</p><p> </p><p>The Government has also led on implementing international standards in tax transparency, including the Common Reporting Standard and Country-by-Country Reporting, which ensure tax authorities have the information they need to identify and challenge avoidance.</p><p> </p><p>The Government considers that public country-by-country reporting needs to be implemented on a broad multilateral basis with wide international support if it is to be effective. Implementing it without wide international support would distort decisions on where companies decide to locate.</p> answering member printed Lord Agnew of Oulton question first answered 23/06/2021 13:12:19 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	4308 label Biography information for The Lord Bishop of St Albans

1312285

	registered interest
	date	27/04/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	What recent discussions he has had with his international counterparts on the potential merits of co-ordinated taxation of multinational companies.
	tabling member constituency	Carmarthen East and Dinefwr
	tabling member printed	Jonathan Edwards
	uin	914860
	answer	answer is ministerial correction date of answer 27/04/2021 answer text <p>The UK has been at the forefront of global efforts to update the international corporation tax framework in response to challenges created by digitisation, and it has played an active role at the OECD in helping to develop a comprehensive two-pillar solution.</p><p> </p><p>The Chancellor has made it a priority of the UK’s G7 presidency to support progress towards a final agreement by mid-2021 and he has regular discussions with his counterparts on these issues.</p><p> </p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 27/04/2021 11:49:53 answering member 3991 label Biography information for Jesse Norman
	tabling member	3943 label Biography information for Jonathan Edwards

1252267

	registered interest
	date	16/11/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what plans he has to allocate additional resources to HMRC to support the investigation of multinational companies that report profits in other countries to reduce the amount of tax they are required to pay in the UK.
	tabling member constituency	Liverpool, Walton
	tabling member printed	Dan Carden
	uin	115791
	answer	answer is ministerial correction date of answer 19/11/2020 answer text <p>The Government continues to take significant steps, domestically and internationally, to ensure multinationals pay the right amount of tax on their activities in the UK.</p><p>Through shared G20 and OECD initiatives to tackle Base Erosion and Profit Shifting, the UK remains at the forefront of multilateral action, reforming tax standards to realign taxation of profits with economic activities taking place across borders.</p><p> </p><p>In order to further combat profit-shifting by multinationals, the Government introduced the Diverted Profits Tax in 2015, the Corporate Interest Restriction in 2017 and the charge on Offshore Receipts in respect of Intangible Property in 2019.</p><p> </p><p>The Government has made significant investment to ensure non-compliance is tackled in all its forms. At Budget 2020, the Treasury provided HMRC with £63 million of additional funding in 2020-21 to tackle non-compliance, which is forecast to generate £4.7 billion of additional tax revenue over the next five years.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 19/11/2020 17:25:40 answering member 3991 label Biography information for Jesse Norman
	tabling member	4651 label Biography information for Dan Carden

1230639

	registered interest
	date	02/09/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what estimate he has made of the revenue raised from Diverted Profits Tax.
	tabling member constituency	Newcastle upon Tyne Central
	tabling member printed	Chi Onwurah
	uin	84237
	answer	answer is ministerial correction date of answer 09/09/2020 answer text <p>HMRC publish data regarding the Diverted Profits Tax (DPT) on an annual basis. The latest publication covers 2015/16 to 2018/19: <a href="https://www.gov.uk/government/publications/transfer-pricing-and-diverted-profits-tax-statistics-to-2018-to-2019" target="_blank">https://www.gov.uk/government/publications/transfer-pricing-and-diverted-profits-tax-statistics-to-2018-to-2019</a>.</p><p> </p><p>Additional information about the wider activities and results of the Diverted Profits Project is also available: <a href="https://www.gov.uk/government/publications/transfer-pricing-and-diverted-profits-tax-statistics-to-2018-to-2019/tackling-profit-diversion-by-multinational-companies" target="_blank">https://www.gov.uk/government/publications/transfer-pricing-and-diverted-profits-tax-statistics-to-2018-to-2019/tackling-profit-diversion-by-multinational-companies</a>.</p><p> </p><p>This additional information will be updated later this year with data for 2019/20.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 09/09/2020 18:08:16 answering member 3991 label Biography information for Jesse Norman
	tabling member	4124 label Biography information for Chi Onwurah

1203481

	registered interest
	date	15/06/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	2
	legislature	25277 pref label House of Lords
	question text	Her Majesty's Government how many businesses moved their headquarters out of the UK for tax purposes in each of the last three years.
	tabling member printed	Lord Browne of Belmont
	uin	HL5652
	answer	answer is ministerial correction date of answer 23/06/2020 answer text <p>The information is not held in the form requested; businesses are not taxed in the UK by reference to where their headquarters are, and there is no requirement on businesses to tell HM Revenue and Customs that they have moved their headquarters.</p> answering member printed Lord Agnew of Oulton question first answered 23/06/2020 14:04:00 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	3801 label Biography information for Lord Browne of Belmont

1151386

	registered interest
	date	22/10/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, with reference to section 15 of and schedule 3 to the Finance (No.3) Act 2018, what estimate he has made of the annual cost to the public purse of the exemption from tax on offshore receipts in respect of intangible property.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	uin	3792
	answer	answer is ministerial correction date of answer 28/10/2019 answer text <p>The taxation of offshore receipts in respect of intangible property was a new measure enacted in Section 15 of and Schedule 3 to the Finance Act 2019. The measure applies a direct UK Income tax charge to amounts received in a low tax jurisdiction in respect of intangible property, to the extent that those amounts are referable to the sale of goods or services in the UK. It is forecast to raise over £1.1 billion over five years, as follows:</p><p> </p><p>Exchequer impact (£m)</p><table><tbody><tr><td><p>2018 to 2019</p></td><td><p>2019 to 2020</p></td><td><p>2020 to 2021</p></td><td><p>2021 to 2022</p></td><td><p>2022 to 2023</p></td><td><p>2023 to 2024</p></td></tr><tr><td><p>0</p></td><td><p>0</p></td><td><p>+475</p></td><td><p>+275</p></td><td><p>+220</p></td><td><p>+165</p></td></tr></tbody></table><p> </p><p>The measure, as enacted, includes three exemptions: a de minimis of £10m of UK sales, an exemption for business undertaken in the territory of residence, and an exemption where tax is being charged at 50% or more of the UK tax. These exemptions aim to target the legislation at multinational groups which generate significant income from intangible property through UK sales and which have made arrangements such that the income is received in offshore jurisdictions where it is taxed at no or low effective rates. The yield forecast for the measure was based on the rules as defined in the legislation.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 28/10/2019 14:00:32 answering member 3991 label Biography information for Jesse Norman
	tabling member	4657 label Biography information for Anneliese Dodds

1135286

	registered interest
	date	27/06/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 29 April 2019 to Question 247155 and with reference to the UK's tax treaties with Uruguay, Sweden and Slovenia containing non-discrimination clauses, why those countries are not included in the Government's list of jurisdictions with which the UK has a full tax treaty.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	uin	270419
	answer	answer is ministerial correction date of answer 02/07/2019 answer text <p>Following a recent update to HMRC’s International Manual, which lists the countries with which the UK has a non-discrimination article, these three countries were inadvertently omitted. This was an oversight which has now been corrected. However, the treaties with Uruguay, Sweden and Slovenia have always been available on the gov.uk page that provides the full text of all of the UK’s treaties.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 02/07/2019 16:00:41 answering member 3991 label Biography information for Jesse Norman
	tabling member	4657 label Biography information for Anneliese Dodds

1126814

	registered interest
	date	15/05/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, pursuant to Answer of 29 April 2019 to Question 247155 on Multinational Companies: Taxation; for what reason Jersey, Guernsey and the Isle of Man were not included in the list of countries with a full tax treaty with the UK; and whether these jurisdictions will be covered by the offshore receipts in respect of intangible property rule.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	uin	254875
	answer	answer is ministerial correction date of answer 20/05/2019 answer text <p>The scope of the legislation “Offshore Receipts in respect of Intangible Property” is limited to territories with which the UK does not have a full tax treaty. A “full treaty territory” is defined in the legislation as a treaty containing a non-discrimination provision. A non-discrimination provision is defined by reference to nationals of a state. Jersey, Guernsey and the Isle of Man are not “states”, they are territories for which the UK is responsible and so cannot meet that condition.</p><p> </p><p>It follows that the Crown Dependencies are within scope of the legislation. The government has committed to respecting its international obligations in respect of this measure. As such the provisions of the relevant treaties will apply to any arrangements involving the Crown Dependencies that are subject to the legislation, and the UK will provide for treaty relief where applicable.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 20/05/2019 14:38:35 answering member 3935 label Biography information for Mel Stride
	tabling member	4657 label Biography information for Anneliese Dodds

1124686

	registered interest
	date	03/05/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether his Department has made an assessment of the effect of the European Commission decision that the UK must recover illegal State aid from the multinational companies that benefited from the group financing exemption of the UK's Controlled Foreign Company (CFC) rules.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	uin	250796
	answer	answer is ministerial correction date of answer 09/05/2019 answer text <p>As the European Commission’s State aid decision makes clear, the existence and quantification of state aid in relation to the group financing exemption of the UK’s Controlled Foreign Company (CFC) rules can only be ascertained by a detailed examination of the facts and circumstances of each case. The decision also makes it clear that no legislative changes are required going forwards.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 09/05/2019 13:30:01 answering member 3935 label Biography information for Mel Stride
	tabling member	4657 label Biography information for Anneliese Dodds

1122697

	registered interest
	date	24/04/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 23 April 2019 to Question 242951 on Multinational Companies: Taxation, if he will publish each country that the HM Treasury considers to be a low-tax jurisdiction with which the UK does not have a full tax treaty for which offshore receipts in relation to the intangible property measure in the Finance Act 2019 will be applicable.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	uin	247155
	answer	answer is ministerial correction date of answer 29/04/2019 answer text <p>The <em>Offshore receipts in respect of intangible property</em> measure applies to entities that are not resident either in the UK, or in a jurisdiction with which the UK has a full tax treaty, meaning a tax treaty containing an appropriate non-discrimination article.</p><p> </p><p>The measure only applies where the tax paid in the local territory on the relevant intangible property income is less than 50% of the charge that would otherwise arise under the measure. This tax rate test applies on an entity-by-entity basis, rather than at the level of the jurisdiction.</p><p> </p><p>The measure may also apply to entities that are resident in territories where those entities are liable to tax on a territorial basis, subject to the UK’s treaty obligations and the tax rate test.</p><p> </p><p>A list of jurisdictions with which the UK has a full tax treaty can be found here: <a href="https://www.gov.uk/hmrc-internal-manuals/international-manual/intm412090" target="_blank">https://www.gov.uk/hmrc-internal-manuals/international-manual/intm412090</a>.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 29/04/2019 15:02:04 answering member 3935 label Biography information for Mel Stride
	tabling member	4657 label Biography information for Anneliese Dodds

1110756

	registered interest
	date	09/04/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, which jurisdictions will be within the scope of the offshore receipts in relation to the intangible property measure in the Finance Act 2019.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	uin	242951
	answer	answer is ministerial correction date of answer 23/04/2019 answer text <p>The <em>Offshore receipts in respect of intangible property</em> measure targets multinational groups that realise intangible property income from UK sales in low or no-tax jurisdictions.</p><p> </p><p>The government has been clear that this measure will be applied in compliance with the UK’s international obligations. This means that the measure will only apply to low-tax jurisdictions with which the UK does not have a full tax treaty.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 23/04/2019 15:51:38 answering member 3935 label Biography information for Mel Stride
	tabling member	4657 label Biography information for Anneliese Dodds

1109704

	registered interest
	date	04/04/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what discussions he has had with his international counterparts on the implementation of measures relating to offshore receipts in respect of intangible property.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	uin	241089
	answer	answer is ministerial correction date of answer 09/04/2019 answer text <p>The Chancellor has regular discussions with his international counterparts on matters relating to international tax policy.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 09/04/2019 16:09:12 answering member 3935 label Biography information for Mel Stride
	tabling member	4657 label Biography information for Anneliese Dodds

1078512

	registered interest
	date	27/02/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, how many companies with (a) assets over £2 billion or (b) a turnover of over £200 million have published their tax strategy.
	tabling member constituency	Bootle
	tabling member printed	Peter Dowd
	uin	226686
	answer	answer is ministerial correction date of answer 04/03/2019 answer text <p>HMRC does not keep a central record that shows which companies with assets over £2 billion or a turnover of over £200 million have published their tax strategies.</p><p> </p> answering member constituency Central Devon answering member printed Mel Stride question first answered 04/03/2019 17:18:57 answering member 3935 label Biography information for Mel Stride
	tabling member	4397 label Biography information for Peter Dowd

1035229

	registered interest
	date	04/01/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of increasing taxes on global corporations and using any additional revenue raised to the public purse to reduce taxes for families.
	tabling member constituency	South Holland and The Deepings
	tabling member printed	Sir John Hayes
	uin	205185
	answer	answer is ministerial correction date of answer 14/01/2019 answer text <p>Since 2010, this government has taken unprecedented action to ensure that large multinationals pay their fair share of tax in the UK. For example, at Budget 2018, the Chancellor announced the introduction of a new Digital Services Tax (DST) from April 2020. This will raise around £1.5bn across four years.</p><p> </p><p>At the same time, the government remains committed to keeping taxes low for working people. A typical basic rate taxpayer will pay £1,200 less in tax in 2019-20 than in 2010, and we’ve announced plans to freeze fuel duty for the ninth year in a row.</p><p> </p><p>The government will continue to keep all tax policy under review.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 14/01/2019 14:47:51 answering member 3935 label Biography information for Mel Stride
	tabling member	350 label Biography information for Sir John Hayes

1024271

	registered interest
	date	12/12/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what steps they are taking to collect more tax revenue from large multinational companies.
	tabling member printed	Lord Taylor of Warwick
	uin	HL12265
	answer	answer is ministerial correction date of answer 20/12/2018 answer text <p>The Government has taken significant steps, domestically and internationally, to ensure that multinationals pay the right amount of tax in the UK.</p><p> </p><p>The UK has led on initiating the OECD Base Erosion and Profit Shifting project and in delivering its recommendations into domestic legislation, for example the corporate interest restriction.</p><p> </p><p>In April 2015, the Government introduced the Diverted Profits Tax which seeks to counter contrived arrangements used to divert profits away from the UK.</p><p> </p><p>At Budget 2018, the Chancellor announced the introduction of the Digital Services Tax, intended to ensure that digital businesses pay UK tax which reflects the value they derive from UK users.</p> answering member printed Lord Bates question first answered 20/12/2018 14:39:12 answering member 1091 label Biography information for Lord Bates
	tabling member	1796 label Biography information for Lord Taylor of Warwick

993599

	registered interest
	date	23/10/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, how much revenue was lost to the public purse as a result of the exemption for regulatory capital in section 259N(3)(b) Chapter 8 Part 6A Taxation (International and Other Provisions) Act 2010 in each year since the introduction of that exemption.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	uin	182824
	answer	answer is ministerial correction date of answer 26/10/2018 answer text <p>As a matter of corporation tax policy, with the aim of improving financial stability, the UK allows certain deductions for the costs of regulatory capital. The exemption referred to helps to ensure that the Hybrid and Other Mismatch Rules act in a way consistent with this policy. As such, there is no question of any tax revenue being “lost” as a result of the exemption.</p><p>It is not possible to provide details of the tax effect arising from the exemption for regulatory capital in section 259N(3)(b), Chapter 8, Part 6A of the Taxation (International and other Provisions) Act 2010.</p><p>The Hybrid and other mismatches regime came into force on 1 January 2017. The majority of corporation tax returns which will reflect the impact of these rules have not yet been received.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 26/10/2018 13:46:56 answering member 3935 label Biography information for Mel Stride
	tabling member	4657 label Biography information for Anneliese Dodds

987760

	registered interest
	date	15/10/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what estimate he has made of the number of additional companies that will be within scope of Chapter 8 of Part 6A of the Taxation (International and Other Provisions) Act 2010 in the event that new subsection 259HA(5)(b) is added as set out in clause 38 of the draft Finance Bill.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	uin	179307
	answer	answer is ministerial correction date of answer 18/10/2018 answer text <p>This measure ensures that the UK hybrid and other mismatch rules are fully compliant with the Anti-Tax Avoidance Directive, ATAD. No estimate has been made in relation to the number of additional companies that may be within scope of the hybrid mismatch rules as a result of this proposed amendment. Clause 38 introduces a minor change to the rules in relation to permanent establishments. The expected yield from this change is negligible. HMRC are not aware of current schemes or arrangements which would fall within the scope of the hybrid mismatch rules as a result of this proposed change to Chapter 8 of Part 6A TIOPA 2010. In addition, the existing hybrid mismatch rules already deal with the majority of mismatches involving permanent establishments.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 18/10/2018 12:55:45 answering member 3935 label Biography information for Mel Stride
	tabling member	4657 label Biography information for Anneliese Dodds

944423

	registered interest
	date	18/07/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what representations they have made to the European Commissioner for Competition to set up a system to ensure that large industries that have substantial operations in EU countries, but pay a large part of their taxes elsewhere, pay appropriate taxes in the EU countries where their operations are based.
	tabling member printed	Lord Morris of Aberavon
	uin	HL9660
	answer	answer is ministerial correction date of answer 31/07/2018 answer text <p>The UK has led global efforts to tackle multinational tax avoidance.</p><p> </p><p>We were at the forefront of the Organisation for Economic Co-operation and Development’s Base Erosion and Profit Shifting (BEPS) Project, which sought to address gaps and mismatches in the international tax system and align tax with economic substance.</p><p> </p><p>We have swiftly implemented the project’s recommendations in domestic legislation, introducing a new restriction on the deductibility of multinationals’ interest expense and rules to prevent multinationals exploiting differences in how countries tax financial instruments and entities.</p><p>We worked closely with the EU Commission and other Member States on the Anti-Tax Avoidance Directive, which seeks to implement the recommendations of the BEPS project and ensure a coordinated response in the EU to tackling tax avoidance by multinationals.</p><p> </p><p>We are engaging constructively with the EU Commission’s recent proposals on digital taxation, which seek to better ensure that digital businesses pay tax in the countries in which they generate value.</p><p> </p> answering member printed Lord Bates question first answered 31/07/2018 12:04:07 answering member 1091 label Biography information for Lord Bates
	tabling member	565 label Biography information for Lord Morris of Aberavon

861195

	registered interest
	date	13/03/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what estimate he has made of the potential monies that would accrue to the public purse of the introduction of revenue-based taxes on multinational companies.
	tabling member constituency	Birkenhead
	tabling member printed	Frank Field
	uin	132344
	answer	answer is ministerial correction date of answer 16/03/2018 answer text <p>The UK applies value-added tax to businesses’ supplies of goods and services to UK consumers. Corporation tax is imposed on a business’s profits relating to value generated through UK activities. The government continues to support the principle that a multinational group’s profits should be taxed in the countries in which it generates value. It does not, for example, believe that the profits of a business that undertakes all of its activities in the UK should be taxed in overseas markets in which the business's goods and services might be sold.</p><p>The Government has set out its receptiveness to exploring interim measures with like-minded countries, like a tax on revenues, to tax certain digital businesses which generate value from UK users. That would be designed to compensate for unrecognised user-created value pending wider reform of the international corporate tax system. The yield from such a tax would depend on its scope, rate and detailed design.</p><p> </p> answering member constituency Central Devon answering member printed Mel Stride question first answered 16/03/2018 13:52:21 answering member 3935 label Biography information for Mel Stride
	tabling member	478 label Biography information for Lord Field of Birkenhead

830055

	registered interest
	date	24/01/2018
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what steps his Department has taken to work with other countries and multilateral institutions on taxing global multinational digital businesses.
	tabling member constituency	Hitchin and Harpenden
	tabling member printed	Bim Afolami
	uin	124761
	answer	answer is ministerial correction date of answer 01/02/2018 answer text <p>The Government is committed to making sure multinational enterprises pay their fair share of tax in the UK.</p><p> </p><p>At Autumn Budget 2017, the Government published a position paper on corporate tax and the digital economy. The paper sets out that the Government thinks international corporate tax principles need updating for the digital age to ensure that they reflect the new ways businesses create value.</p><p> </p><p>The Government is also considering this issue at an international level. The UK actively supports and is working with the OECD’s Task Force on the Digital Economy, which is due to produce an interim report in Spring 2018.</p><p> </p><p>The Government is engaging constructively with EU discussions on this issue and agreed Council conclusions with other Member States at the December ECOFIN meeting.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 01/02/2018 14:50:41 answering member 3935 label Biography information for Mel Stride
	tabling member	4639 label Biography information for Bim Afolami

802105

	registered interest
	date	06/12/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, whether he will take steps to require multinational companies to set out in their annual report how much tax they would owe the Exchequer if they were to subtract costs incurred solely in the UK from their revenues generated solely in the UK.
	tabling member constituency	Birkenhead
	tabling member printed	Frank Field
	uin	117792
	answer	answer is ministerial correction date of answer 14/12/2017 answer text <p>Along with most major economies in the world, the UK levies corporation tax on the basis of the profits generated by economic activity and assets held here.</p><p> </p><p>The Government introduced country-by-country reporting which requires multinationals to provide HMRC with comprehensive information about global activities, profits and taxes. This enables HMRC to better assess where risks lie and where their efforts to counter aggressive tax planning and tax avoidance should be focused.</p><p> </p><p>The UK is committed to a multilateral model of public country-by-country reporting and we will continue to engage with our international partners on this issue.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 14/12/2017 14:45:29 answering member 3935 label Biography information for Mel Stride
	tabling member	478 label Biography information for Lord Field of Birkenhead

786322

	registered interest
	date	07/11/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, when the Government plans to bring into force Schedule 19 of the Finance Act 2016.
	tabling member constituency	Birkenhead
	tabling member printed	Frank Field
	uin	112181
	answer	answer is ministerial correction date of answer 13/11/2017 answer text <p>Schedule 19 of the Finance Act 2016 gained Royal Assent on the 15th September 2016.</p><p> </p><p>Qualifying businesses are required to publish their tax strategy in financial years commencing after this date.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 13/11/2017 15:55:24 answering member 3935 label Biography information for Mel Stride
	tabling member	478 label Biography information for Lord Field of Birkenhead

754537

	registered interest
	date	20/07/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what plans he has for the implementation of the provisions of schedule 19, paragraph 17, line 6 of the Finance Act 2016 on country-by-country reporting.
	tabling member constituency	Hayes and Harlington
	tabling member printed	John McDonnell
	uin	6559
	answer	answer is ministerial correction date of answer 06/09/2017 answer text <p>Knowing who ultimately owns and controls a company is a crucial part of the global fight against corruption, money laundering and terrorist financing. The UK is leading by example and our freely accessible public register of company beneficial ownership went live in June 2016.</p><p> </p><p>Last year, the UK co-launched a ground breaking new initiative with the EU G5 for the systematic exchange of beneficial ownership information. Since launching the initiative, over 50 countries, including all of the Crown Dependencies and relevant Overseas Territories, have signed up.</p><p> </p><p>Building on the success of that multilateral approach, the UK is now pushing for multilateral agreement on a model of public country-by-country reporting (CBCR).</p><p> </p><p>It is important that there is a level of international support and co-ordination that leads to both domestic and foreign headquartered groups being required to report information for a comprehensive range of countries in which they operate.</p><p> </p><p>That is necessary to ensure that public CBCR meets its objective and to avoid the initiative distorting business decisions on their group structure and headquarter location.</p><p> </p><p>The UK is, as part of this, engaging constructively with the European Commission proposal for public CBCR.</p><p> </p><p>That includes the high-level aims of the Directive, and the more detailed aspects of the Directive that are alluded to in the question, on which discussions are still ongoing.</p> answering member constituency Central Devon answering member printed Mel Stride grouped question UIN 6101 6102 6103 6104 question first answered 06/09/2017 09:07:51 answering member 3935 label Biography information for Mel Stride
	tabling member	178 label Biography information for John McDonnell

753996

	registered interest
	date	19/07/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, whether he plans to issue guidance to business on the EU definition of commercially sensitive information for the purposes of the use of that term in the final form of Directive 2013/34EU on public country-by-country reporting.
	tabling member constituency	Don Valley
	tabling member printed	Caroline Flint
	uin	6102
	answer	answer is ministerial correction date of answer 06/09/2017 answer text <p>Knowing who ultimately owns and controls a company is a crucial part of the global fight against corruption, money laundering and terrorist financing. The UK is leading by example and our freely accessible public register of company beneficial ownership went live in June 2016.</p><p> </p><p>Last year, the UK co-launched a ground breaking new initiative with the EU G5 for the systematic exchange of beneficial ownership information. Since launching the initiative, over 50 countries, including all of the Crown Dependencies and relevant Overseas Territories, have signed up.</p><p> </p><p>Building on the success of that multilateral approach, the UK is now pushing for multilateral agreement on a model of public country-by-country reporting (CBCR).</p><p> </p><p>It is important that there is a level of international support and co-ordination that leads to both domestic and foreign headquartered groups being required to report information for a comprehensive range of countries in which they operate.</p><p> </p><p>That is necessary to ensure that public CBCR meets its objective and to avoid the initiative distorting business decisions on their group structure and headquarter location.</p><p> </p><p>The UK is, as part of this, engaging constructively with the European Commission proposal for public CBCR.</p><p> </p><p>That includes the high-level aims of the Directive, and the more detailed aspects of the Directive that are alluded to in the question, on which discussions are still ongoing.</p> answering member constituency Central Devon answering member printed Mel Stride grouped question UIN 6101 6103 6104 6559 question first answered 06/09/2017 09:07:51 answering member 3935 label Biography information for Mel Stride
	tabling member	389 label Biography information for Caroline Flint

753997

	registered interest
	date	19/07/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what estimate his Department has made of the number of countries the Government would need to support any multilateral agreement on public country-by-country reporting for the purposes of implementation of paragraph 17 (6) of Schedule 19 of the Finance Act 2016; and what steps he is taking to secure the support of that number of countries.
	tabling member constituency	Don Valley
	tabling member printed	Caroline Flint
	uin	6103
	answer	answer is ministerial correction date of answer 06/09/2017 answer text <p>Knowing who ultimately owns and controls a company is a crucial part of the global fight against corruption, money laundering and terrorist financing. The UK is leading by example and our freely accessible public register of company beneficial ownership went live in June 2016.</p><p> </p><p>Last year, the UK co-launched a ground breaking new initiative with the EU G5 for the systematic exchange of beneficial ownership information. Since launching the initiative, over 50 countries, including all of the Crown Dependencies and relevant Overseas Territories, have signed up.</p><p> </p><p>Building on the success of that multilateral approach, the UK is now pushing for multilateral agreement on a model of public country-by-country reporting (CBCR).</p><p> </p><p>It is important that there is a level of international support and co-ordination that leads to both domestic and foreign headquartered groups being required to report information for a comprehensive range of countries in which they operate.</p><p> </p><p>That is necessary to ensure that public CBCR meets its objective and to avoid the initiative distorting business decisions on their group structure and headquarter location.</p><p> </p><p>The UK is, as part of this, engaging constructively with the European Commission proposal for public CBCR.</p><p> </p><p>That includes the high-level aims of the Directive, and the more detailed aspects of the Directive that are alluded to in the question, on which discussions are still ongoing.</p> answering member constituency Central Devon answering member printed Mel Stride grouped question UIN 6101 6102 6104 6559 question first answered 06/09/2017 09:07:51 answering member 3935 label Biography information for Mel Stride
	tabling member	389 label Biography information for Caroline Flint

753998

	registered interest
	date	19/07/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, whether the Government is assessing the comprehensiveness and effectiveness of the EU template for public country-by-country reporting.
	tabling member constituency	Don Valley
	tabling member printed	Caroline Flint
	uin	6104
	answer	answer is ministerial correction date of answer 06/09/2017 answer text <p>Knowing who ultimately owns and controls a company is a crucial part of the global fight against corruption, money laundering and terrorist financing. The UK is leading by example and our freely accessible public register of company beneficial ownership went live in June 2016.</p><p> </p><p>Last year, the UK co-launched a ground breaking new initiative with the EU G5 for the systematic exchange of beneficial ownership information. Since launching the initiative, over 50 countries, including all of the Crown Dependencies and relevant Overseas Territories, have signed up.</p><p> </p><p>Building on the success of that multilateral approach, the UK is now pushing for multilateral agreement on a model of public country-by-country reporting (CBCR).</p><p> </p><p>It is important that there is a level of international support and co-ordination that leads to both domestic and foreign headquartered groups being required to report information for a comprehensive range of countries in which they operate.</p><p> </p><p>That is necessary to ensure that public CBCR meets its objective and to avoid the initiative distorting business decisions on their group structure and headquarter location.</p><p> </p><p>The UK is, as part of this, engaging constructively with the European Commission proposal for public CBCR.</p><p> </p><p>That includes the high-level aims of the Directive, and the more detailed aspects of the Directive that are alluded to in the question, on which discussions are still ongoing.</p> answering member constituency Central Devon answering member printed Mel Stride grouped question UIN 6101 6102 6103 6559 question first answered 06/09/2017 09:07:51 answering member 3935 label Biography information for Mel Stride
	tabling member	389 label Biography information for Caroline Flint

753735

	registered interest
	date	18/07/2017
	answering body	Department for Exiting the European Union
	answering dept id	203
	answering dept short name	Exiting the European Union
	answering dept sort name	Exiting the European Union
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Exiting the European Union, whether the Government plans to include a multilateral deal on public country-by-country reporting as part of its negotiations on leaving the EU.
	tabling member constituency	Don Valley
	tabling member printed	Caroline Flint
	uin	5917
	answer	answer is ministerial correction date of answer 26/07/2017 answer text <p>The UK has led international action to enhance tax transparency, and believes a multilateral approach to public country-by-country reporting would help ensure effective implementation.</p><p>We have raised public country-by-country reporting with international partners and the Government will continue to engage with our international partners, including at EU level, on this issue.</p><p> </p> answering member constituency Wycombe answering member printed Mr Steve Baker question first answered 26/07/2017 10:01:54 answering member 4064 label Biography information for Mr Steve Baker
	tabling member	389 label Biography information for Caroline Flint

709267

	registered interest
	date	08/03/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what plans he has to revisit the case for adopting public country-by-country reporting in the UK unilaterally, if a multilateral agreement is not forthcoming.
	tabling member constituency	East Ham
	tabling member printed	Stephen Timms
	uin	67093
	answer	answer is ministerial correction date of answer 13/03/2017 answer text <p>The Government is supportive of efforts to improve tax transparency.</p><p> </p><p>It initiated the international work on country-by-country reporting, calling on the OECD to develop country-by-country reporting to tax authorities as part of the Base Erosion and Profit Shifting (BEPS) Project.</p><p> </p><p>The Government has been actively engaged with international partners on a multilateral approach to making this information public, which includes participation in the discussions on a European Commission proposal for public country-by-country reporting.</p><p> </p><p>A multilateral approach is the only way of ensuring an effective model of public country-by-country reporting, one which provides a comprehensive breakdown of information for the jurisdictions in which both domestic and foreign headquartered multinationals operate.</p><p> </p><p>The Chancellor of the Exchequer and other Treasury Ministers continue to meet with their international counterparts on a regular basis, including at the G20 and the European Union, to discuss multilateral actions to counter tax avoidance and promote tax transparency.</p> answering member constituency Battersea answering member printed Jane Ellison grouped question UIN 67027 67028 question first answered 13/03/2017 17:22:14 answering member 3918 label Biography information for Jane Ellison
	tabling member	163 label Biography information for Sir Stephen Timms

709273

	registered interest
	date	08/03/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, at how many meetings with Finance Ministers from (a) EU and (b) non-EU countries he has discussed public country-by-country reporting.
	tabling member constituency	East Ham
	tabling member printed	Stephen Timms
	uin	67027
	answer	answer is ministerial correction date of answer 13/03/2017 answer text <p>The Government is supportive of efforts to improve tax transparency.</p><p> </p><p>It initiated the international work on country-by-country reporting, calling on the OECD to develop country-by-country reporting to tax authorities as part of the Base Erosion and Profit Shifting (BEPS) Project.</p><p> </p><p>The Government has been actively engaged with international partners on a multilateral approach to making this information public, which includes participation in the discussions on a European Commission proposal for public country-by-country reporting.</p><p> </p><p>A multilateral approach is the only way of ensuring an effective model of public country-by-country reporting, one which provides a comprehensive breakdown of information for the jurisdictions in which both domestic and foreign headquartered multinationals operate.</p><p> </p><p>The Chancellor of the Exchequer and other Treasury Ministers continue to meet with their international counterparts on a regular basis, including at the G20 and the European Union, to discuss multilateral actions to counter tax avoidance and promote tax transparency.</p> answering member constituency Battersea answering member printed Jane Ellison grouped question UIN 67028 67093 question first answered 13/03/2017 17:22:14 answering member 3918 label Biography information for Jane Ellison
	tabling member	163 label Biography information for Sir Stephen Timms

709274

	registered interest
	date	08/03/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, when he expects to reach a multilateral agreement under which the UK may adopt public country-by-country reporting.
	tabling member constituency	East Ham
	tabling member printed	Stephen Timms
	uin	67028
	answer	answer is ministerial correction date of answer 13/03/2017 answer text <p>The Government is supportive of efforts to improve tax transparency.</p><p> </p><p>It initiated the international work on country-by-country reporting, calling on the OECD to develop country-by-country reporting to tax authorities as part of the Base Erosion and Profit Shifting (BEPS) Project.</p><p> </p><p>The Government has been actively engaged with international partners on a multilateral approach to making this information public, which includes participation in the discussions on a European Commission proposal for public country-by-country reporting.</p><p> </p><p>A multilateral approach is the only way of ensuring an effective model of public country-by-country reporting, one which provides a comprehensive breakdown of information for the jurisdictions in which both domestic and foreign headquartered multinationals operate.</p><p> </p><p>The Chancellor of the Exchequer and other Treasury Ministers continue to meet with their international counterparts on a regular basis, including at the G20 and the European Union, to discuss multilateral actions to counter tax avoidance and promote tax transparency.</p> answering member constituency Battersea answering member printed Jane Ellison grouped question UIN 67027 67093 question first answered 13/03/2017 17:22:14 answering member 3918 label Biography information for Jane Ellison
	tabling member	163 label Biography information for Sir Stephen Timms

683631

	registered interest
	date	02/02/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Multinational Companies: Taxation
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government, further to the answer by Baroness Neville-Rolfe on 18 January (HL Deb, col 212), and in the light of paragraph 17(7) of Schedule 19 to the Finance Act 2016 which provides for the Treasury to make regulations requiring group tax strategies to include a country-by-country report, what steps they are taking to ensure that transnational companies are fully transparent about the real centres of their economic activity and reveal any misalignment between that and where such companies declare their profits for tax purposes in their annual accounts.
	tabling member printed	Lord Harries of Pentregarth
	uin	HL5194
	answer	answer is ministerial correction date of answer 15/02/2017 answer text <p>The Government believes that profits should be taxed where economic activities are performed. The UK has introduced the OECD model of country-by-country reporting. This will provide a clear overall picture of the global position on profit and tax of multinational groups to tax authorities, enabling them to make more informed assessments of where risks lie.</p><p> </p><p>The Government has set out its objective for a comprehensive and effective model of public country-by-country reporting that is agreed on a multilateral basis, to improve transparency over businesses’ tax affairs and build public trust in the tax system. The UK will continue to work with international partners with a view to delivering on that objective. This includes our continued participation in the discussions on the European Commission’s proposal.</p> answering member printed Baroness Neville-Rolfe question first answered 15/02/2017 14:28:44 answering member 4284 label Biography information for Baroness Neville-Rolfe
	tabling member	3813 label Biography information for Lord Harries of Pentregarth

459332

	registered interest
	date	10/03/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what assessment he has made of the potential costs and benefits of making available to the public country-by-country taxation reports submitted to HM Revenue and Customs (HMRC) by multinational companies; and whether HMRC plans to make those reports available to taxation authorities in other countries.
	tabling member constituency	Birmingham, Hall Green
	tabling member printed	Mr Roger Godsiff
	uin	30785
	answer	answer is ministerial correction date of answer 15/03/2016 answer text <p>The UK supports efforts to improve tax transparency. We initiated the international work on country-by-country (CbC) reporting to tax authorities during our G8 Presidency in 2013, calling on the OECD to develop a template for this as part of the BEPS project. The UK was also the first to commit to implementing the OECD model with legislation in Finance Act 2015. We signed the OECD agreement to share the CbC reports with other tax authorities in January 2016 and issued our final CbC reporting regulations on 26 February 2016.</p><p> </p><p>HMRC is committed to sharing the information reported by MNEs with other relevant tax jurisdictions to assist in assessing international tax avoidance risks.</p><p> </p><p>The Government believes that there is scope for greater transparency by pressing the case for public CbC reporting on a multilateral basis. As the Chancellor has said, this is something that the UK will seek to promote internationally.</p><p> </p><p>The European Commission is preparing an impact assessment of public CbC reporting. We look forward to seeing the outcome of this analysis, which we expect to be published early next month, and will consider any proposal put forward by the Commission in due course.</p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 15/03/2016 17:27:19 answering member 1529 label Biography information for Mr David Gauke
	tabling member	304 label Biography information for Mr Roger Godsiff

458658

	registered interest
	date	08/03/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Multinational Companies: Taxation
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government, further to the Written Answer by Lord O’Neill of Gatley on 10 February (HL5712), what other mechanisms are available to the EU to intervene on, or influence, taxation in individual member states.
	tabling member printed	Lord Stoddart of Swindon
	uin	HL6810
	answer	answer is ministerial correction date of answer 22/03/2016 answer text <p>Direct tax is a Member State competence. Under the Treaties, any Directives on tax are agreed by unanimity, the effect of which is to give each Member State a veto power.</p> answering member printed Lord O'Neill of Gatley question first answered 22/03/2016 17:33:53 answering member 4536 label Biography information for Lord O'Neill of Gatley
	tabling member	950 label Biography information for Lord Stoddart of Swindon

453062

	registered interest
	date	19/02/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what steps he plans to take to ensure that all UK-registered companies are subject to the same tax provisions as their UK competitors providing the same services to the same customer base regardless of the official locations of the European subsidiaries of such companies.
	tabling member constituency	Fermanagh and South Tyrone
	tabling member printed	Tom Elliott
	uin	27529
	answer	answer is ministerial correction date of answer 29/02/2016 answer text <p>Along with most major economies in the world, the UK has a territorial tax system that charges corporation tax on profits earned from economic activity carried out here.</p><p> </p><p>The UK cannot tax profits arising from sales in the UK to the extent that those profits are generated by activities carried on outside the UK.</p><p> </p><p>Multinational companies’ profits are taxed in accordance with internationally agreed principles. The current international tax rules were first developed in the 1920s and the UK is playing a leading role in updating them so they are fit for purpose in today’s modern globalising economy.</p><p> </p><p>Tax avoidance and aggressive tax planning by multinationals requires a coordinated approach to come up with effective solutions.</p><p> </p><p>The UK will continue to be at the forefront of multilateral action through the G20, the Organisation for Economic Co-Operation and Development (OECD) and the EU to reform the international tax standards to prevent aggressive tax planning by multinationals.</p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 29/02/2016 17:05:58 answering member 1529 label Biography information for Mr David Gauke
	tabling member	4367 label Biography information for Lord Elliott of Ballinamallard

451701

	registered interest
	date	09/02/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Multinational Companies: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what his Department's policy is on the proposal from the European Parliament's Economic and Monetary Affairs Committee to introduce comprehensive public country-by-country reporting for all multinational companies, in all sectors, by the first quarter of 2016; and if he will press for the introduction of such country-by-country reporting with other member states in the Council.
	tabling member constituency	Brighton, Pavilion
	tabling member printed	Caroline Lucas
	uin	26531
	answer	answer is ministerial correction date of answer 17/02/2016 answer text <p>The European Parliament’s Economic and Monetary Affairs Committee (ECON) has a keen interest in tax, and hence put forward certain proposals. However, the Commission has the sole power of initiative in relation to legislative measures. Tax files are to be agreed by unanimity at the Economic and Financial Affairs Council (ECOFIN). The European Parliament’s role in this process in not formal, and purely consultative.</p><p> </p><p>The term tax haven is often used as shorthand for low or zero tax jurisdictions. However, low tax rates are not by themselves harmful and the UK supports fair tax competition. The UK is working with other Member States in the EU Code of Conduct Group to identify harmful tax regimes and will continue to take strong action against aggressive avoidance and evasion.</p><p> </p><p>The UK and other Member States have not yet seen any proposals from the European Commission or the European Parliament on public country-by-country reporting (CbCR). The Commission is due to publish an Impact Assessment on public CbCR shortly, and we are interested in the results of their analysis. The UK will carefully consider any proposals put forward by the Commission.</p><p> </p><p>The UK played a leading role in encouraging other countries and jurisdictions to sign up to international tax transparency agreements during its G8 presidency in 2013. Thanks in large part to the UK's continuing leadership on this agenda, over 90 countries have now committed to exchange information on offshore accounts, beginning in 2017 or 2018. The UK also initiated the international work on CbCR and was the first country to formally commit to implementing the OECD model for CbCR, with legislation in the Finance Act 2015. We support the proposal to amend the Directive on Administrative Co-operation to require all EU Member States to adopt and exchange the OECD CbCR template.</p><p> </p><p>The European Commission intends to publish a revised proposal for a mandatory Common Consolidated Corporate Tax Base (CCCTB) later this year. The Government will wait to see the detail of the Commission’s proposal, including a robust impact assessment, before finalising its position. However, we have stated that the UK will not sign up to anything that undermines our tax sovereignty.</p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke grouped question UIN 26529 26530 question first answered 17/02/2016 10:09:03 answering member 1529 label Biography information for Mr David Gauke
	tabling member	3930 label Biography information for Caroline Lucas

449201

	registered interest
	date	01/02/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Multinational Companies: Taxation
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government what is their assessment of the criticism of the European Commission by Robert Stack, the US Treasury Official in charge of international tax policy, for disproportionately targeting US companies; and under what articles of the EU treaties the EU can tax foreign enterprises.
	tabling member printed	Lord Stoddart of Swindon
	uin	HL5711
	answer	answer is ministerial correction date of answer 15/02/2016 answer text <p><strong>While corporate taxation is a matter for Member States, under the EU Treaties the European Commission has competence to conduct State aid investigations in order to prevent unlawful distortion of competition and to safeguard the internal market. Investigations into tax rulings issued by EU Member States to multi-national companies were opened by the Commission in 2013. While the Commission has found illegal aid has been provided by some Members States (not including the UK) relating to some US companies, rulings under investigation also relate to a number of non-US undertakings. </strong></p><p> </p> answering member printed Lord O'Neill of Gatley question first answered 15/02/2016 15:26:54 answering member 4536 label Biography information for Lord O'Neill of Gatley
	tabling member	950 label Biography information for Lord Stoddart of Swindon