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1490084

registered interest
date	18/07/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Corporation Tax
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps his Department has taken in response to the closure of the consultation on implementation of OECD Pillar 2.
tabling member constituency	Hampstead and Kilburn
tabling member printed	Tulip Siddiq
uin	38739
answer	answer is ministerial correction date of answer 21/07/2022 answer text <p>The OECD’s two pillar solution to the tax challenges resulting from digitalisation represents a major reform of the international tax framework and will help to ensure multinational businesses pay their fair share, with the right companies paying the right amount of tax in the right place.</p><p> </p><p>On 20 July 2022, the Government published a response to the consultation on the implementation of Pillar 2 in the UK. The response can be found here: <a href="https://www.gov.uk/government/consultations/oecd-pillar-2-consultation-on-implementation" target="_blank">https://www.gov.uk/government/consultations/oecd-pillar-2-consultation-on-implementation</a>. Draft legislation was also published, and the Government welcomes further consultation on this. The draft legislation can be found here: <a href="https://www.gov.uk/government/publications/introduction-of-the-new-multinational-top-up-tax" target="_blank">https://www.gov.uk/government/publications/introduction-of-the-new-multinational-top-up-tax</a>.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer question first answered 21/07/2022 13:03:02 answering member 4517 label Biography information for Lucy Frazer
tabling member	4518 label Biography information for Tulip Siddiq

1487651

registered interest
date	08/07/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Corporation Tax
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether it is his policy to reduce corporation tax.
tabling member constituency	Warrington North
tabling member printed	Charlotte Nichols
uin	33027
answer	answer is ministerial correction date of answer 18/07/2022 answer text <p>Any future changes to the rate of Corporation Tax that is currently legislated for will be set out to Parliament in the usual way.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer question first answered 18/07/2022 11:28:12 answering member 4517 label Biography information for Lucy Frazer
tabling member	4799 label Biography information for Charlotte Nichols

1485179

registered interest
date	30/06/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Corporation Tax
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has made of the potential effect of the OECD's global minimum corporation tax proposals on costs for UK businesses.
tabling member constituency	Beckenham
tabling member printed	Bob Stewart
uin	28409
answer	answer is ministerial correction date of answer 07/07/2022 answer text <p>The OECD’s Two Pillar Solution to the process of digitalisation represents a major reform of the international tax framework and will help to ensure multinational businesses pay their fair share, with the right companies paying the right amount of tax in the right place.</p><p> </p><p>Both Pillars 1 and 2 will be subject to the standard tax policymaking process, with their impacts formally assessed through the OBR forecast process.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer question first answered 07/07/2022 11:14:05 answering member 4517 label Biography information for Lucy Frazer
tabling member	3919 label Biography information for Bob Stewart

1458568

registered interest
date	19/04/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Corporation Tax
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether he has held discussions with (a) officials in his Department, (b) Cabinet colleagues and (c) relevant stakeholders on the global minimum corporate tax system since his appointment as Chancellor of the Exchequer.
tabling member constituency	Erith and Thamesmead
tabling member printed	Abena Oppong-Asare
uin	155943
answer	answer is ministerial correction date of answer 25/04/2022 answer text <p>The UK have been active participants throughout the process to introduce a global minimum corporate tax, with the Chancellor playing a leading role in securing G7 commitment to a global minimum tax rate of 15 per cent in June 2021, setting a foundation for the wider agreement reached by over 130 members of the OECD Inclusive Framework in October 2021.</p><p> </p><p>As part of the normal policy making process, the Chancellor maintains strong and ongoing working relationships with both HM Treasury officials and Cabinet colleagues alike on the policy direction and the current status of the global minimum tax.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer question first answered 25/04/2022 16:42:17 answering member 4517 label Biography information for Lucy Frazer
tabling member	4820 label Biography information for Abena Oppong-Asare

1457286

registered interest
date	14/04/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Corporation Tax
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether a disputes resolution mechanism agreed as part of the Organisation for Economic Cooperation and Development’s BEPS 2.0 Pillar 2 proposals would be binding upon UK courts.
tabling member constituency	Romford
tabling member printed	Andrew Rosindell
uin	153791
answer	answer is ministerial correction date of answer 26/04/2022 answer text <p>The Government is delighted that more than 130 countries reached agreement on a Two-Pillar solution to the tax challenges arising from the digitalisation of the economy, on the 8 October 2021.</p><p> </p><p>As outlined in the October 2021 Statement, the OECD will seek to develop an implementation framework by the end of 2022 which will be designed to facilitate the co-ordinated implementation and administration of the GloBE Rules.</p><p> </p><p>Discussions on the implementation framework are ongoing and public input was recently sought on the issues that should be addressed as part of this work, including the question of whether mechanisms are needed to avoid the risk of double taxation: <a href="https://www.gov.uk/government/consultations/oecd-pillar-2-consultation-on-implementation" target="_blank">https://www.gov.uk/government/consultations/oecd-pillar-2-consultation-on-implementation</a>.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer question first answered 26/04/2022 15:33:18 answering member 4517 label Biography information for Lucy Frazer
tabling member	1447 label Biography information for Andrew Rosindell

1441432

registered interest
date	15/03/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Corporation Tax
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what his Department’s ready reckoner estimate is of the effects on tax receipts of a one percentage point increase in the rate of ring fence corporation tax in financial years (a) 2022-23, (b) 2023-24 and (c) 2024-25; and if he will place a copy of those estimates in the Library.
tabling member constituency	Gower
tabling member printed	Tonia Antoniazzi
uin	140537
answer	answer is ministerial correction date of answer 21/03/2022 answer text <p>The Government does not typically provide assessments of changes to ring fence Corporation Tax and does not propose doing so in this case.</p><p> </p><p>The Government places additional taxes on the extraction of oil and gas, with companies engaged in the production of oil and gas on the UK Continental Shelf subject to headline tax rates on their profits that are currently more than double those paid by other businesses. To date, the sector has paid more than £375 billion in production taxes.</p><p> </p><p>The Government keeps all taxes under review, and any changes are considered and announced by the Chancellor.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer question first answered 21/03/2022 16:37:54 answering member 4517 label Biography information for Lucy Frazer
tabling member	4623 label Biography information for Tonia Antoniazzi

1434253

registered interest
date	22/02/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Corporation Tax
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will confirm that Pillar 2 of the OECD Framework on Base Erosion and Profit Shifting will not become operational in the UK in the event that international agreement is not reached on implementing Pillar 1.
tabling member constituency	Romford
tabling member printed	Andrew Rosindell
uin	127321
answer	answer is ministerial correction date of answer 02/03/2022 answer text <p>The Government is glad that on 8 October 2021 more than 130 countries reached agreement on a Two-Pillar Solution to the tax challenges arising from the digitalisation of the economy.</p><p> </p><p>As per the detailed implementation plan set out in the October 2021 statement, the aim is that both Pillar 1 and Pillar 2 will be implemented and effective by 2023. However, we cannot comment on the Organisation for Economic Co-operation and Development’s funding requirements in this respect.</p><p> </p><p>As part of the implementation process, both Pillars will be subject to the standard tax policymaking process, with their impacts formally assessed through the Office for Budget Responsibility’s forecast process.</p><p> </p><p>Monitoring and compliance will be handled by HMRC, utilising their departmental budget allocated as part of the Spending Review 2021.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer grouped question UIN 127322 question first answered 02/03/2022 12:07:22 answering member 4517 label Biography information for Lucy Frazer
tabling member	1447 label Biography information for Andrew Rosindell

1434254

registered interest
date	22/02/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Corporation Tax
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what additional funding will be required by (a) his Department and (b) the OECD to ensure monitoring and compliance with the proposed Pillar 2 rules of BEPS 2.0.
tabling member constituency	Romford
tabling member printed	Andrew Rosindell
uin	127322
answer	answer is ministerial correction date of answer 02/03/2022 answer text <p>The Government is glad that on 8 October 2021 more than 130 countries reached agreement on a Two-Pillar Solution to the tax challenges arising from the digitalisation of the economy.</p><p> </p><p>As per the detailed implementation plan set out in the October 2021 statement, the aim is that both Pillar 1 and Pillar 2 will be implemented and effective by 2023. However, we cannot comment on the Organisation for Economic Co-operation and Development’s funding requirements in this respect.</p><p> </p><p>As part of the implementation process, both Pillars will be subject to the standard tax policymaking process, with their impacts formally assessed through the Office for Budget Responsibility’s forecast process.</p><p> </p><p>Monitoring and compliance will be handled by HMRC, utilising their departmental budget allocated as part of the Spending Review 2021.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer grouped question UIN 127321 question first answered 02/03/2022 12:07:22 answering member 4517 label Biography information for Lucy Frazer
tabling member	1447 label Biography information for Andrew Rosindell

1384296

registered interest
date	02/12/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Corporation Tax
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 27 October 2021 to question 58753 on Corporation Tax, if he will make available on a private basis to hon. Members and Members of the House of Lords the most recent draft of the political agreement being negotiated as part of the Organisation for Economic Co-operation and Development’s Base Erosion and Profit Shifting framework.
tabling member constituency	Romford
tabling member printed	Andrew Rosindell
uin	86061
answer	answer is ministerial correction date of answer 10/12/2021 answer text <p>The government is delighted that a final political agreement has been reached on the framework for a two-pillar solution.</p><p> </p><p>The final political agreement was published online by the OECD following the agreement reached at the OECD Inclusive Framework meeting on the tax challenges arising from the digitalisation of the economy, on 8 October 2021: <a href="https://www.oecd.org/tax/beps/statement-on-a-two-pillar-solution-to-address-the-tax-challenges-arising-from-the-digitalisation-of-the-economy-october-2021.pdf" target="_blank">https://www.oecd.org/tax/beps/statement-on-a-two-pillar-solution-to-address-the-tax-challenges-arising-from-the-digitalisation-of-the-economy-october-2021.pdf</a>.</p><p> </p><p>The government intends to consult with stakeholders as part of the process of implementing the agreement in UK law.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer grouped question UIN 86062 question first answered 10/12/2021 14:25:20 answering member 4517 label Biography information for Lucy Frazer
tabling member	1447 label Biography information for Andrew Rosindell

1384298

registered interest
date	02/12/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Corporation Tax
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will make it his policy to hold a formal public consultation before holding a vote in Parliament to implement the Organisation for Economic Co-operation and Development’s base Erosion and Profit Shifting framework.
tabling member constituency	Romford
tabling member printed	Andrew Rosindell
uin	86062
answer	answer is ministerial correction date of answer 10/12/2021 answer text <p>The government is delighted that a final political agreement has been reached on the framework for a two-pillar solution.</p><p> </p><p>The final political agreement was published online by the OECD following the agreement reached at the OECD Inclusive Framework meeting on the tax challenges arising from the digitalisation of the economy, on 8 October 2021: <a href="https://www.oecd.org/tax/beps/statement-on-a-two-pillar-solution-to-address-the-tax-challenges-arising-from-the-digitalisation-of-the-economy-october-2021.pdf" target="_blank">https://www.oecd.org/tax/beps/statement-on-a-two-pillar-solution-to-address-the-tax-challenges-arising-from-the-digitalisation-of-the-economy-october-2021.pdf</a>.</p><p> </p><p>The government intends to consult with stakeholders as part of the process of implementing the agreement in UK law.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer grouped question UIN 86061 question first answered 10/12/2021 14:25:20 answering member 4517 label Biography information for Lucy Frazer
tabling member	1447 label Biography information for Andrew Rosindell