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1361506

registered interest
date	19/10/2021
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, with reference to proposals for a global minimum rate of corporation tax under Pillar 2 of the OECD’s Base Erosion and Profit Shifting (BEPS) Framework, what position the Government has put forward on the use of deferred tax accounting to the OECD Working Party 11.
tabling member constituency	Romford
tabling member printed	Andrew Rosindell
uin	58753
answer	answer is ministerial correction date of answer 27/10/2021 answer text <p>The UK has long been at the forefront of global efforts to update the international corporation tax framework in response to challenges created by digitalisation.</p><p>The UK has been an active participant throughout the process and has played a leading role in securing G20 commitment to reach initial agreement on the proposals by mid-2021 and final agreement by October 2021.</p><p>The agreement reached on 8 October 2021, with over 130 jurisdictions across the globe, represents a major reform to the global tax system 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>Reaching a Two-Pillar Solution has been a long-standing priority for the UK. It is a credit to our persistence that this agreement is now becoming a reality.</p><p>The full details of the political agreement are still subject to international negotiation and it would not be appropriate to comment on specific provisions.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer grouped question UIN 58752 question first answered 27/10/2021 13:57:39 answering member 4517 label Biography information for Lucy Frazer
tabling member	1447 label Biography information for Andrew Rosindell

1347319

registered interest
date	15/07/2021
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, what estimate he has made, applying the Laffer curve, of the potential effect on tax revenues of a reduction in corporation tax.
tabling member constituency	Shrewsbury and Atcham
tabling member printed	Daniel Kawczynski
uin	33878
answer	answer is ministerial correction date of answer 20/07/2021 answer text <p>The fiscal and economic impact of changes in the rate of Corporation Tax (CT) have been set out in the Office for Budget Responsibility’s (OBR’s) Economic and Fiscal Outlooks which are published alongside fiscal events.</p><p> </p><p>The most recent forecast, published in March 2021, includes the revenue raised from the announcement made at Budget 2021: that the main rate will increase to 25% from April 2023, which is forecast to raise over £45 billion across the next 5 years.</p><p> </p><p>This forecast incorporates adjustments to reflect behavioural responses from businesses to changes in the rate of CT.</p><p> </p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 20/07/2021 11:22:20 answering member 3991 label Biography information for Jesse Norman
tabling member	1566 label Biography information for Daniel Kawczynski

1346706

registered interest
date	14/07/2021
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, what estimate he has made of the number of UK domiciled enterprises that would be affected by a global minimum corporate rate of taxation of at least 15 per cent, as agreed between G7 Finance Ministers on 5 June 2021.
tabling member constituency	Ealing North
tabling member printed	James Murray
uin	33353
answer	answer is ministerial correction date of answer 19/07/2021 answer text <p>I refer the hon Member to the answer that I gave on 12 July to PQ UIN 28089 .</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman grouped question UIN 33352 33354 33355 question first answered 19/07/2021 13:51:57 answering member 3991 label Biography information for Jesse Norman
tabling member	4797 label Biography information for James Murray

1346707

registered interest
date	14/07/2021
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, what estimate he has made of the number of UK domiciled financial firms that would be affected by the agreement between G7 Finance Ministers on 5 June 2021 to reallocate taxing rights to at least 20 per cent of profit exceeding a 10 per cent margin for the largest and most profitable multinational enterprises.
tabling member constituency	Ealing North
tabling member printed	James Murray
uin	33354
answer	answer is ministerial correction date of answer 19/07/2021 answer text <p>I refer the hon Member to the answer that I gave on 12 July to PQ UIN 28089 .</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman grouped question UIN 33352 33353 33355 question first answered 19/07/2021 13:51:57 answering member 3991 label Biography information for Jesse Norman
tabling member	4797 label Biography information for James Murray

1344125

registered interest
date	06/07/2021
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 an assessment of the potential benefits to the UK of introducing an international minimum corporation tax rate of 15 per cent.
tabling member constituency	East Londonderry
tabling member printed	Mr Gregory Campbell
uin	28089
answer	answer is ministerial correction date of answer 12/07/2021 answer text <p>Reaching a two-pillar solution on global tax reform which reallocates taxing rights and introduces a global minimum tax has been a long-standing priority for the UK.</p><p> </p><p>The Government is delighted that the G7 agreement secured on this in June has formed the basis for an historic agreement among over 130 members of the OECD Inclusive Framework. The Government looks forward to continuing discussions with its global partners in the coming months with a view to finalising the details by October.</p><p> </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> </p><p>If final agreement is reached and both pillars are implemented in the UK, they would be subject to standard tax policymaking process, with their impacts formally assessed through the OBR forecast process.</p><p><strong> </strong></p><p><strong> </strong></p><p> </p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 12/07/2021 09:45:04 answering member 3991 label Biography information for Jesse Norman
tabling member	1409 label Biography information for Mr Gregory Campbell

1338304

registered interest
date	21/06/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Corporation Tax
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether parliamentary approval will be required for a future increase in the world minimum rate of corporation tax under Pillar 2 of the framework on Base Erosion and Profit Shifting.
tabling member printed	Lord Hannan of Kingsclere
uin	HL1240
answer	answer is ministerial correction date of answer 29/06/2021 answer text <p>It is a UK priority to reach a comprehensive two-pillar solution addressing the tax challenges of digitisation.</p><p> </p><p>The details of a final agreement, including on the exact framework for implementation, are still subject to international negotiation.</p><p> </p><p>If a political agreement is reached and both pillars are implemented in the UK, they will be subject to the normal tax policymaking process. That would include legislation in the relevant Finance Bill, with impacts then being formally assessed and set out in a Tax Information and Impact Note upon the introduction of the legislation.</p><p> </p><p>Any significant subsequent changes to that legislation would likewise be made through a future Finance Bill.</p> answering member printed Lord Agnew of Oulton grouped question UIN HL1241 question first answered 29/06/2021 16:18:33 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	4905 label Biography information for Lord Hannan of Kingsclere

1338305

registered interest
date	21/06/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Corporation Tax
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made of the impact of the Organisation for Economic Co-operation and Development's proposal for a global minimum corporation tax on the ability of the UK Government to adjust its domestic taxation policy.
tabling member printed	Lord Hannan of Kingsclere
uin	HL1241
answer	answer is ministerial correction date of answer 29/06/2021 answer text <p>It is a UK priority to reach a comprehensive two-pillar solution addressing the tax challenges of digitisation.</p><p> </p><p>The details of a final agreement, including on the exact framework for implementation, are still subject to international negotiation.</p><p> </p><p>If a political agreement is reached and both pillars are implemented in the UK, they will be subject to the normal tax policymaking process. That would include legislation in the relevant Finance Bill, with impacts then being formally assessed and set out in a Tax Information and Impact Note upon the introduction of the legislation.</p><p> </p><p>Any significant subsequent changes to that legislation would likewise be made through a future Finance Bill.</p> answering member printed Lord Agnew of Oulton grouped question UIN HL1240 question first answered 29/06/2021 16:18:33 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	4905 label Biography information for Lord Hannan of Kingsclere

1337844

registered interest
date	17/06/2021
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, what assessment his Department has made of the potential merits of an international minimum corporate tax rate.
tabling member constituency	Richmond Park
tabling member printed	Sarah Olney
uin	17799
answer	answer is ministerial correction date of answer 22/06/2021 answer text <p>The Government is delighted that 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, with the G20 and OECD Inclusive Framework, on a two-pillar solution which reallocates taxing rights and introduces a global minimum tax would be a major multilateral achievement and introduce greater stability into the international tax landscape.</p><p> </p><p>The details of a final agreement are still subject to international negotiation, and it would not be appropriate to provide a detailed impact assessment.</p><p> </p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 22/06/2021 10:18:32 answering member 3991 label Biography information for Jesse Norman
tabling member	4591 label Biography information for Sarah Olney

1337302

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	Corporation Tax
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what progress he has made with his G7 counterparts on establishing a global minimum corporation tax rate.
tabling member constituency	Crewe and Nantwich
tabling member printed	Dr Kieran Mullan
uin	17008
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 17007 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

1333946

registered interest
date	14/06/2021
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, which foreign Governments have (a) informed him of their support for a 21 per cent minimum global corporation tax rate and (b) asked the UK to support that rate.
tabling member constituency	Slough
tabling member printed	Mr Tanmanjeet Singh Dhesi
uin	15359
answer	answer is ministerial correction date of answer 17/06/2021 answer text <p>The Government is delighted that 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, with the G20 and OECD Inclusive Framework, on a two-pillar solution which reallocates taxing rights and introduces a global minimum tax would be a major multilateral achievement that introduces stability into the international tax landscape.</p><p> </p><p>The details of a final agreement are still subject to international negotiation and it would not be appropriate for the Government to provide detailed commentary on those discussions.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 17/06/2021 13:17:43 answering member 3991 label Biography information for Jesse Norman
tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi