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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

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

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