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459332

registered interest
date	10/03/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Multinational Companies: Taxation
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what assessment he has made of the potential costs and benefits of making available to the public country-by-country taxation reports submitted to HM Revenue and Customs (HMRC) by multinational companies; and whether HMRC plans to make those reports available to taxation authorities in other countries.
tabling member constituency	Birmingham, Hall Green
tabling member printed	Mr Roger Godsiff
uin	30785
answer	answer is ministerial correction date of answer 15/03/2016 answer text <p>The UK supports efforts to improve tax transparency. We initiated the international work on country-by-country (CbC) reporting to tax authorities during our G8 Presidency in 2013, calling on the OECD to develop a template for this as part of the BEPS project. The UK was also the first to commit to implementing the OECD model with legislation in Finance Act 2015. We signed the OECD agreement to share the CbC reports with other tax authorities in January 2016 and issued our final CbC reporting regulations on 26 February 2016.</p><p> </p><p>HMRC is committed to sharing the information reported by MNEs with other relevant tax jurisdictions to assist in assessing international tax avoidance risks.</p><p> </p><p>The Government believes that there is scope for greater transparency by pressing the case for public CbC reporting on a multilateral basis. As the Chancellor has said, this is something that the UK will seek to promote internationally.</p><p> </p><p>The European Commission is preparing an impact assessment of public CbC reporting. We look forward to seeing the outcome of this analysis, which we expect to be published early next month, and will consider any proposal put forward by the Commission in due course.</p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 15/03/2016 17:27:19 answering member 1529 label Biography information for Mr David Gauke
tabling member	304 label Biography information for Mr Roger Godsiff

458658

registered interest
date	08/03/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Multinational Companies: Taxation
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government, further to the Written Answer by Lord O’Neill of Gatley on 10 February (HL5712), what other mechanisms are available to the EU to intervene on, or influence, taxation in individual member states.
tabling member printed	Lord Stoddart of Swindon
uin	HL6810
answer	answer is ministerial correction date of answer 22/03/2016 answer text <p>Direct tax is a Member State competence. Under the Treaties, any Directives on tax are agreed by unanimity, the effect of which is to give each Member State a veto power.</p> answering member printed Lord O'Neill of Gatley question first answered 22/03/2016 17:33:53 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	950 label Biography information for Lord Stoddart of Swindon

453062

registered interest
date	19/02/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Multinational Companies: Taxation
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what steps he plans to take to ensure that all UK-registered companies are subject to the same tax provisions as their UK competitors providing the same services to the same customer base regardless of the official locations of the European subsidiaries of such companies.
tabling member constituency	Fermanagh and South Tyrone
tabling member printed	Tom Elliott
uin	27529
answer	answer is ministerial correction date of answer 29/02/2016 answer text <p>Along with most major economies in the world, the UK has a territorial tax system that charges corporation tax on profits earned from economic activity carried out here.</p><p> </p><p>The UK cannot tax profits arising from sales in the UK to the extent that those profits are generated by activities carried on outside the UK.</p><p> </p><p>Multinational companies’ profits are taxed in accordance with internationally agreed principles. The current international tax rules were first developed in the 1920s and the UK is playing a leading role in updating them so they are fit for purpose in today’s modern globalising economy.</p><p> </p><p>Tax avoidance and aggressive tax planning by multinationals requires a coordinated approach to come up with effective solutions.</p><p> </p><p>The UK will continue to be at the forefront of multilateral action through the G20, the Organisation for Economic Co-Operation and Development (OECD) and the EU to reform the international tax standards to prevent aggressive tax planning by multinationals.</p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 29/02/2016 17:05:58 answering member 1529 label Biography information for Mr David Gauke
tabling member	4367 label Biography information for Tom Elliott

449201

registered interest
date	01/02/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Multinational Companies: Taxation
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what is their assessment of the criticism of the European Commission by Robert Stack, the US Treasury Official in charge of international tax policy, for disproportionately targeting US companies; and under what articles of the EU treaties the EU can tax foreign enterprises.
tabling member printed	Lord Stoddart of Swindon
uin	HL5711
answer	answer is ministerial correction date of answer 15/02/2016 answer text <p><strong>While corporate taxation is a matter for Member States, under the EU Treaties the European Commission has competence to conduct State aid investigations in order to prevent unlawful distortion of competition and to safeguard the internal market. Investigations into tax rulings issued by EU Member States to multi-national companies were opened by the Commission in 2013. While the Commission has found illegal aid has been provided by some Members States (not including the UK) relating to some US companies, rulings under investigation also relate to a number of non-US undertakings. </strong></p><p> </p> answering member printed Lord O'Neill of Gatley question first answered 15/02/2016 15:26:54 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	950 label Biography information for Lord Stoddart of Swindon

449202

registered interest
date	01/02/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Multinational Companies: Taxation
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what legal powers the EU has to intervene in the taxation arrangements agreed between HM Treasury and foreign-based firms, including Google, and what assessment they have made of whether HMRC could legally co-operate in any such EU action.
tabling member printed	Lord Stoddart of Swindon
uin	HL5712
answer	answer is ministerial correction date of answer 10/02/2016 answer text <p>While corporate taxation is a matter for Member States, under the EU Treaties the European Commission has competence to conduct State aid investigations in order to prevent unlawful distortion of competition and to safeguard the internal market. Member State authorities are required to cooperate with any such investigations.</p><p> </p> answering member printed Lord O'Neill of Gatley question first answered 10/02/2016 17:40:31 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	950 label Biography information for Lord Stoddart of Swindon

449269

registered interest
date	01/02/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Multinational Companies: Taxation
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, how many companies have been subject to a diverted profits charge since its introduction.
tabling member constituency	Feltham and Heston
tabling member printed	Seema Malhotra
uin	25057
answer	answer is ministerial correction date of answer 29/02/2016 answer text <p>The Diverted Profits Tax is designed to counter contrived tax arrangements used by some multinationals to shift their profits to other countries. It is deliberately set at a higher rate than corporation tax, so it acts as a deterrent and encourages more companies to pay corporation tax.</p><p> </p><p>To date no companies have been issued with a charging notice under section 95 Finance Act 2015 which brings diverted profits tax into charge. However, HM Revenue and Customs (HMRC) received notifications from eleven companies under section 92 in relation to section 86 Finance Act 2015 over the period 1 April 2015 to 31 December 2015.</p><p> </p><p>For companies with accounting periods ending on or before 31 March 2016 the notification period is six months from the end of that period. HMRC is not able to disclose details of notifications relating to sections 80 and 81 of the Finance Act 2015 due to its duty to protect taxpayer confidentiality.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 29/02/2016 16:58:20 answering member 1529 label Biography information for Mr David Gauke
tabling member	4253 label Biography information for Seema Malhotra

448223

registered interest
date	27/01/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Multinational Companies: Taxation
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what assessment he has made of the merits of making public the rules for country-by-country reporting of tax and profits by multinational companies.
tabling member constituency	Glasgow North
tabling member printed	Patrick Grady
uin	24622
answer	answer is ministerial correction date of answer 04/02/2016 answer text <p>The UK supports efforts to improve tax transparency. The UK initiated the international work on country-by-country reporting during its G8 Presidency in 2013, calling on the OECD to develop a template for country-by-country (CbC) reporting as part of the BEPS project.</p><p>The UK was the first out of 44 to commit to implement the OECD model for CbC reporting with legislation in Finance Act 2015.</p><p> </p><p>We understand that the Commission is also undertaking an analysis of the various tax transparency requirements for multinationals as part of its public consultation, and we look forward to the outcomes of this work.</p><p> </p><p>The Government recognises the case for publishing country-by-country reports on a multilateral basis.</p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke grouped question UIN 24621 question first answered 04/02/2016 16:29:27 answering member 1529 label Biography information for Mr David Gauke
tabling member	4432 label Biography information for Patrick Grady

448226

registered interest
date	27/01/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Multinational Companies: Taxation
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what discussions he has had with (a) Members of the European Parliament, (b) EU Commissioners and (c) EU finance ministers on making public the rules for country-by-country reporting of tax and profits by multinational companies.
tabling member constituency	Glasgow North
tabling member printed	Patrick Grady
uin	24621
answer	answer is ministerial correction date of answer 04/02/2016 answer text <p>The UK supports efforts to improve tax transparency. The UK initiated the international work on country-by-country reporting during its G8 Presidency in 2013, calling on the OECD to develop a template for country-by-country (CbC) reporting as part of the BEPS project.</p><p>The UK was the first out of 44 to commit to implement the OECD model for CbC reporting with legislation in Finance Act 2015.</p><p> </p><p>We understand that the Commission is also undertaking an analysis of the various tax transparency requirements for multinationals as part of its public consultation, and we look forward to the outcomes of this work.</p><p> </p><p>The Government recognises the case for publishing country-by-country reports on a multilateral basis.</p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke grouped question UIN 24622 question first answered 04/02/2016 16:29:27 answering member 1529 label Biography information for Mr David Gauke
tabling member	4432 label Biography information for Patrick Grady

387470

registered interest
date	02/07/2015
answering body	HM 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 Mr Chancellor of the Exchequer, what steps he is taking to make country-by-country tax reporting rules publicly available.
tabling member constituency	Luton South
tabling member printed	Mr Gavin Shuker
uin	5427
answer	answer is ministerial correction date of answer 07/07/2015 answer text The UK introduced legislation in Finance Bill 2015 in order to implement the G20-OECD model for Country-by-Country reporting. This will require multinational companies to provide information on the global allocation of income, economic activity and taxes, and will give tax authorities a clear picture of a multinational company’s global business, whilst ensuring the administrative costs for businesses are minimised.<p> </p><p> </p>The OECD model for Country-by-Country reporting to tax authorities is for high level risk assessment purposes and includes protections to ensure sensitive information remains confidential. Making the reporting information public would not enhance risk assessment for tax authorities. The UK has however transposed the EU Capital Requirements Directive IV, which requires public reporting for the banking and capital markets industry.<p> </p><p> </p>The European Commission has launched a public consultation on this issue and will evaluate the costs and benefits of different forms of Country-by-Country reporting, including the public disclosure of this information. The UK will be interested in understanding their findings.<p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 07/07/2015 14:27:42 answering member 1529 label Biography information for Mr David Gauke
tabling member	4013 label Biography information for Mr Gavin Shuker

384645

registered interest
date	22/06/2015
answering body	HM 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 Mr Chancellor of the Exchequer, what plans his Department has to bring forward legislative proposals to ensure that multinational enterprises provide country-by-country tax reports in line with proposals made in the OECD's Country-by-Country Reporting Implementation Package, published in June 2015.
tabling member constituency	Glasgow North
tabling member printed	Patrick Grady
uin	3541
answer	answer is ministerial correction date of answer 25/06/2015 answer text <p>The UK introduced legislation in Finance Act 2015 in order to implement the OECD model for Country-by-Country reporting (CbC). This proposal was initiated by the UK under its G8 presidency in 2013 and developed as part of the OECD's Base Erosion and Profit Shifting project.</p><p> </p><p> </p><p> </p><p>The OECD’s proposed implementation package, which was published on 8 June 2015, requires filing for Multinational Enterprises (MNEs) with fiscal years beginning on or after 1 January 2016.</p><p> </p><p> </p><p> </p><p>The government will set out further detail on implementation in the UK in line with the international agreement in due course.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 25/06/2015 15:13:34 answering member 1529 label Biography information for Mr David Gauke
tabling member	4432 label Biography information for Patrick Grady