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1664986

registered interest
date	16/10/2023
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 on implementation of OECD Pillar 2 on corporation tax; and if he will make an assessment of the potential economic impact of that implementation.
tabling member constituency	Witham
tabling member printed	Priti Patel
uin	202680
answer	answer is ministerial correction date of answer 24/10/2023 answer text <p>The government has legislated for the Pillar 2 Multinational top-up tax (MTT) and Domestic top-up tax (DTT) for implementation from 31 December 2023.</p><p> </p><p>An updated Tax Impact and Information Note and costing were published at Spring Budget 2023. An update on the latest revenue forecast from the OBR and a status update on international implementation will be provided at Autumn Statement 2023.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 24/10/2023 11:57:12 answering member 4399 label Biography information for Victoria Atkins
tabling member	4066 label Biography information for Priti Patel

1579771

registered interest
date	23/01/2023
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 publish the most recent version of the agreement on the Organisation for Economic Co-operation and Development’s Base Erosion and Profit Shifting framework.
tabling member constituency	Witham
tabling member printed	Priti Patel
uin	129766
answer	answer is ministerial correction date of answer 31/01/2023 answer text <p>The UK is a member of the Organisation for Economic Cooperation and Development (OECD)/Group of Twenty (G20) Inclusive Framework on Base Erosion and Profit Shifting (BEPS), which is collaborating on 15 actions to address tax avoidance.</p><p>The OECD sets out the 15 BEPS actions at <a href="https://www.oecd.org/tax/beps/beps-actions/" target="_blank">https://www.oecd.org/tax/beps/beps-actions/</a>.</p><p>The recent focus of developments in international tax has been the Two-Pillar Solution to address the tax challenges arising from the digitalisation of the economy.</p><p>The OECD published the two-pillar agreement in 2021, so far signed by 138 countries including the UK, which can be accessed at <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.htm" 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.htm</a>.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 31/01/2023 15:18:06 answering member 4399 label Biography information for Victoria Atkins
tabling member	4066 label Biography information for Priti Patel

1579772

registered interest
date	23/01/2023
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	Witham
tabling member printed	Priti Patel
uin	129767
answer	answer is ministerial correction date of answer 31/01/2023 answer text <p>The Organisation for Economic Cooperation and Development (OECD) is publicly consulting on tax certainty in the pillar 2 rules, covering dispute prevention and dispute resolution mechanisms, until 3 February 2023. This includes options for legal instruments to implement the dispute resolution process.</p><p> </p><p>The public consultation can be accessed online at <a href="https://www.oecd.org/tax/beps/oecd-invites-comments-on-compliance-and-tax-certainty-aspects-of-global-minimum-tax.htm" target="_blank">https://www.oecd.org/tax/beps/oecd-invites-comments-on-compliance-and-tax-certainty-aspects-of-global-minimum-tax.htm</a>.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 31/01/2023 15:20:59 answering member 4399 label Biography information for Victoria Atkins
tabling member	4066 label Biography information for Priti Patel

1579773

registered interest
date	23/01/2023
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	Witham
tabling member printed	Priti Patel
uin	129817
answer	answer is ministerial correction date of answer 31/01/2023 answer text At Autumn Statement 2022, the Government set out that Pillar 2 will raise £2.3 billion a year by 2027-28.<p> </p><p> </p>An estimate of HMRC operational costs to implement Pillar 2 was published in a tax information and impact note in July 2022. This can be accessed on GOV.UK at <a href="https://www.gov.uk/government/publications/introduction-of-the-new-multinational-top-up-tax/multinational-top-up-tax-uk-adoption-of-organisation-for-economic-co-operation-and-development-pillar-2" target="_blank">https://www.gov.uk/government/publications/introduction-of-the-new-multinational-top-up-tax/multinational-top-up-tax-uk-adoption-of-organisation-for-economic-co-operation-and-development-pillar-2</a><p> </p><p> </p><p> </p>The Government will publish an updated tax information and impact note at the Spring Budget. answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 31/01/2023 15:27:58 answering member 4399 label Biography information for Victoria Atkins
tabling member	4066 label Biography information for Priti Patel

1579775

registered interest
date	23/01/2023
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 bringing forward legislative proposals to implement the Organisation for Economic Co-operation and Development’s base Erosion and Profit Shifting framework.
tabling member constituency	Witham
tabling member printed	Priti Patel
uin	129818
answer	answer is ministerial correction date of answer 31/01/2023 answer text <p>As part of the tax policy making process, the Government routinely holds public consultations on tax policy ahead of implementation.</p><p>Since international agreement on the BEPS project in 2015, the Government has consulted ahead of the introduction of new rules in accordance with the BEPS actions. This includes on hybrid mismatch rules, the tax deductibility on corporate interest expense and country by country reporting.</p><p>The Government has recently demonstrated its commitment to consultation. In 2022, the Government consulted on the implementation of Pillar 2 in the UK and published a response in July 2022 which can be accessed on gov.uk at <a href="https://www.gov.uk/government/consultations/oecd-pillar-2-consultation-on-implementation" target="_blank"><em>https://www.gov.uk/government/consultations/oecd-pillar-2-consultation-on-implementation</em></a><em>.</em></p><p>In July 2022, the Government also led a technical consultation on Income Inclusion Rule draft legislation published on gov.uk at <a href="https://www.gov.uk/government/publications/introduction-of-the-new-multinational-top-up-tax" target="_blank"><em>https://www.gov.uk/government/publications/introduction-of-the-new-multinational-top-up-tax</em></a><em>.</em></p><p>Following consultation, the Government confirmed at Autumn Statement 2022 that it will implement the OECD Pillar 2 rules for accounting periods beginning on or after 31 December 2023.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 31/01/2023 15:13:03 answering member 4399 label Biography information for Victoria Atkins
tabling member	4066 label Biography information for Priti Patel

1563092

registered interest
date	19/12/2022
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 publish the estimate of the cost to the public purse, including money spent IT systems and staff, of the decision to cancel the freeze in the rate of Corporation Tax announced on 23 September 2022 and to increase the rate to 25 per cent.
tabling member constituency	Ealing North
tabling member printed	James Murray
uin	113466
answer	answer is ministerial correction date of answer 09/01/2023 answer text Estimates of the IT and administrative costs associated with the increase in the rate of Corporation Tax were set out in the tax information impact note (TIIN) published at Spring Budget 2021 when the rate increase was announced. answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 09/01/2023 13:58:14 answering member 4399 label Biography information for Victoria Atkins
tabling member	4797 label Biography information for James Murray

1539355

registered interest
date	03/11/2022
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 His Majesty's Government what forecast they have made of the impact of stabilising corporation tax levels on the UK’s economic forecast.
tabling member printed	Lord Taylor of Warwick
uin	HL3217
answer	answer is ministerial correction date of answer 17/11/2022 answer text <p>The economic and fiscal impact of changes in Corporation Tax policy are factored into the Office for Budget Responsibility’s forecasts. Further detail is available in the OBR’s Economic and Fiscal Outlook which is published at fiscal events.</p> answering member printed Baroness Penn question first answered 17/11/2022 14:47:12 answering member 4726 label Biography information for Baroness Penn
tabling member	1796 label Biography information for Lord Taylor of Warwick

1491664

registered interest
date	21/07/2022
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, if he will make an assessment of the potential impact on the UK economy of (a) cancelling his planned corporation tax rise from 19% to 25% and (b) reducing that rate to 15%.
tabling member constituency	Ilford South
tabling member printed	Sam Tarry
uin	42273
answer	answer is ministerial correction date of answer 14/09/2022 answer text <p>The UK’s main rate of Corporation Tax is currently legislated to increase from 19 per cent to 25 per cent from April 2023. The Prime Minister has committed to cancel this rate increase. The Chancellor will set out any plans on tax and implementation in due course.</p> answering member constituency North East Bedfordshire answering member printed Richard Fuller question first answered 14/09/2022 09:23:24 answering member 3912 label Biography information for Richard Fuller
tabling member	4829 label Biography information for Sam Tarry

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

1489068

registered interest
date	13/07/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Corporation Tax
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what plans they have to suspend corporate income tax for a limited period of time.
tabling member printed	Lord Taylor of Warwick
uin	HL1756
answer	answer is ministerial correction date of answer 26/07/2022 answer text <p>The Government is not currently planning to suspend Corporation Tax. Any future changes to Corporation Tax will be set out to Parliament in the usual way.</p> answering member printed Baroness Penn question first answered 26/07/2022 13:37:59 answering member 4726 label Biography information for Baroness Penn
tabling member	1796 label Biography information for Lord Taylor of Warwick