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1050282

registered interest
date	28/01/2019
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 plans he has to require the Financial Reporting Council to develop accounting standards requiring UK companies to disclose how much corporation tax or its equivalent they pay in each country of their operation; and if he will make a statement.
tabling member constituency	Harrow West
tabling member printed	Gareth Thomas
uin	213170
answer	answer is ministerial correction date of answer 31/01/2019 answer text <p>There are currently no plans to require UK accounting standards to be developed for this purpose.</p><p> </p><p>However, the government continues to support the development of a public Country-by-Country Reporting model that works on a multilateral basis.</p><p> </p><p>This would require large multinational companies to publish a country-by-country breakdown of their profits, tax and assets.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 31/01/2019 15:21:07 answering member 3935 label Biography information for Mel Stride
tabling member	177 label Biography information for Gareth Thomas

1037094

registered interest
date	07/01/2019
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 plans to lower corporation tax after the UK leaves the EU.
tabling member constituency	Upper Bann
tabling member printed	David Simpson
uin	205869
answer	answer is ministerial correction date of answer 15/01/2019 answer text <p>The government is committed to ensuring the UK remains competitive and an attractive destination to set up and grow a business.</p><p>Since 2010, the government has cut the rate of corporation tax from 28% to 19% today. The government has legislated to reduce the corporation tax rate further to 17% in April 2020. This delivers the government’s ambition to have the lowest overall rate in the G20.</p><p>As with all aspects of the tax system, the government keeps the UK corporation tax rate under review. Any decisions on future policy would be considered as part of the Budget process, in the context of the wider public finances.</p><p>The government also remains committed to commence the power for the Northern Ireland Assembly to set a Northern Ireland rate of corporation tax, as set out in the Stormont House Agreement, once a restored Northern Ireland Executive demonstrates its finances are on a sustainable footing.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 15/01/2019 14:18:12 answering member 3935 label Biography information for Mel Stride
tabling member	1597 label Biography information for David Simpson

1006210

registered interest
date	13/11/2018
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 effect of lowering the rate of corporation tax on corporation tax receipts since 2017.
tabling member constituency	Romford
tabling member printed	Andrew Rosindell
uin	190819
answer	answer is ministerial correction date of answer 21/11/2018 answer text <p>The OECD has concluded that corporation tax is the most harmful tax for growth and productivity.</p><p> </p><p>In April 2017, the corporation tax rate was reduced from 20% to 19%. This is the continuation of this government’s reduction in the rate from 28% in 2010.</p><p> </p><p>Lower corporation taxes can result in increased profits, wages, employment and consumption that all feed through into higher tax revenues that support our vital public services.</p><p> </p><p>Despite the rate cut in 2017, the onshore corporation tax revenues have increased from £53.6 billion in 2016-17 to £56.1 billion in 2017-18. Since 2010, onshore corporation tax revenues have increased by 55%.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 21/11/2018 15:35:46 answering member 3935 label Biography information for Mel Stride
tabling member	1447 label Biography information for Andrew Rosindell