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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

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

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

384646

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, how many multinational enterprises that paid tax to the Government provided country-by-country tax reports to HM Revenue and Customs in 2010-15.
tabling member constituency	Glasgow North
tabling member printed	Patrick Grady
uin	3542
answer	answer is ministerial correction date of answer 25/06/2015 answer text <p>The UK introduced legislation in Finance Bill 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 14:59:02 answering member 1529 label Biography information for Mr David Gauke
tabling member	4432 label Biography information for Patrick Grady

384647

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 mechanisms are in place to ensure that multinational enterprises publish full transparent breakdowns of their tax receipts.
tabling member constituency	Glasgow North
tabling member printed	Patrick Grady
uin	3543
answer	answer is ministerial correction date of answer 25/06/2015 answer text <p>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> </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 and would likely increase resource implications on both business and 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> </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> </p><p> </p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 25/06/2015 15:17:11 answering member 1529 label Biography information for Mr David Gauke
tabling member	4432 label Biography information for Patrick Grady

225122

registered interest
date	04/03/2015
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 has taken to ensure that large multinational internet retailers comply with the diverted profits tax.
tabling member constituency	East Londonderry
tabling member printed	Mr Gregory Campbell
uin	226427
answer	answer is ministerial correction date of answer 09/03/2015 answer text <p>The Diverted Profits Tax targets multinationals in any business sector which use a variety of contrived arrangements, to shift profits out of the UK.</p><p> </p><p> </p><p> </p><p>The measure is targeted at specific abusive arrangements, and not at any particular companies or sectors.</p><p> </p><p> </p><p> </p><p>Where multinational business are going to extraordinary lengths to pay little or no tax in the UK through the use of aggressive tax planning techniques, we will act to stop this.</p><p> </p><p> </p><p> </p><p>As a matter of compliance, the legislation sets out the circumstances in which companies need to notify HMRC. When there is potentially a charge to Diverted Profits Tax for an accounting period, the company must notify HMRC within three months of the end of that accounting period.</p><p> </p><p> </p><p> </p><p>A company may be liable for a penalty for failure to notify HMRC of a potential liability to the DPT, which is based on the potential lost revenue.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 09/03/2015 17:38:41 answering member 1529 label Biography information for Mr David Gauke
tabling member	1409 label Biography information for Mr Gregory Campbell

169384

registered interest
date	10/12/2014
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 recent representations he has received on proposals for a diverted profits tax.
tabling member constituency	Birmingham, Ladywood
tabling member printed	Shabana Mahmood
uin	218019
answer	answer is ministerial correction date of answer 16/12/2014 answer text <p>Treasury Ministers and officials meet with, and receive representations from, a wide range of organisations and individuals in the public and private sectors, as part of the usual policy making process. As was the case with previous Administrations, it is not the Treasury’s practice to provide details of all such representations.</p><p> </p><p> </p><p> </p><p>Draft legislation for the Diverted Profits Tax was published on 10 December for technical consultation, until 4 February 2015. The measure will be effective from 1 April 2015.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke grouped question UIN 218182 question first answered 16/12/2014 16:42:52 answering member 1529 label Biography information for Mr David Gauke
tabling member	3914 label Biography information for Shabana Mahmood

169390

registered interest
date	10/12/2014
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 discussions he has had on the diverted profits tax with representatives of business (a) before and (b) after 1 October 2014.
tabling member constituency	Birmingham, Ladywood
tabling member printed	Shabana Mahmood
uin	218182
answer	answer is ministerial correction date of answer 16/12/2014 answer text <p>Treasury Ministers and officials meet with, and receive representations from, a wide range of organisations and individuals in the public and private sectors, as part of the usual policy making process. As was the case with previous Administrations, it is not the Treasury’s practice to provide details of all such representations.</p><p> </p><p> </p><p> </p><p>Draft legislation for the Diverted Profits Tax was published on 10 December for technical consultation, until 4 February 2015. The measure will be effective from 1 April 2015.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke grouped question UIN 218019 question first answered 16/12/2014 16:42:52 answering member 1529 label Biography information for Mr David Gauke
tabling member	3914 label Biography information for Shabana Mahmood