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1672907

registered interest
date	24/11/2023
answering body	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 the Chancellor of the Exchequer, what recent assessment he has made of the implications for his policies of the planned timetable for the implementation of OECD pillar two in (a) the US, (b) China, (c) India and (d) the EU.
tabling member constituency	Ealing, Southall
tabling member printed	Mr Virendra Sharma
uin	3622
answer	answer is ministerial correction date of answer 29/11/2023 answer text <p>The UK is implementing the G20/OECD Pillar 2 rules from 31 December 2023. A considerable number of countries join the UK in doing so. This includes EU Member States, where a Directive mandates all Member States except the very smallest must implement for 31 December 2023.</p><p> </p><p>I understand that China and India have not yet announced their plans on Pillar 2. The US administration have committed to align their policy with Pillar 2. These countries are all members of the ‘Inclusive Framework’ of countries and jurisdictions that meet, discuss and agree the rules and who must accept the rules as they are applied by those that have introduced them.</p><p> </p><p>Pillar 2 is a global approach to disincentivising multinational profit shifting and levelling the playing field on tax competition, and the rules mean that not every jurisdiction is required to implement them to achieve this.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 29/11/2023 15:34:19 answering member 4407 label Biography information for Nigel Huddleston
tabling member	1604 label Biography information for Mr Virendra Sharma

1671741

registered interest
date	21/11/2023
answering body	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 the Chancellor of the Exchequer, what his Department's planned timescale is for the implementation of OECD Pillar 2 rules.
tabling member constituency	Ealing, Southall
tabling member printed	Mr Virendra Sharma
uin	2838
answer	answer is ministerial correction date of answer 27/11/2023 answer text <p>The government has legislated for the Pillar 2 Multinational-Top up Tax and Domestic Top-up Tax to take effect from accounting periods beginning on or after 31 December 2023.</p><p> </p><p>As announced at Autumn Statement, the government is implementing the Undertaxed Profits Rule for accounting periods beginning on or after 31 December 2024.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 27/11/2023 12:27:58 answering member 4407 label Biography information for Nigel Huddleston
tabling member	1604 label Biography information for Mr Virendra Sharma

1582240

registered interest
date	31/01/2023
answering body	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 the Chancellor of the Exchequer, with reference to the Autumn Statement 2022, pg. 60, Line 33, what calculations his Department used to establish the figure of £2.11 billion of revenue in 2024-25 from implementation of the global minimum corporate tax reforms; and if he will place a copy of those calculations in the Library of the House.
tabling member constituency	Orpington
tabling member printed	Gareth Bacon
uin	136744
answer	answer is ministerial correction date of answer 08/02/2023 answer text <p>The process for estimating the Exchequer yield from implementation of Pillar 2 policy in the UK can be found in the Autumn Budget 2022: Policy Costings, available at <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1118364/Autumn_Statement_2022_Policy_Costings_.pdf" target="_blank">https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1118364/Autumn_Statement_2022_Policy_Costings_.pdf</a>.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 08/02/2023 16:26:48 answering member 4399 label Biography information for Victoria Atkins
tabling member	4798 label Biography information for Gareth Bacon

1582242

registered interest
date	31/01/2023
answering body	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 the Chancellor of the Exchequer, with reference to the policy paper entitled Multinational top-up tax: UK adoption of Organisation for Economic Co-operation and Development Pillar 2 published on 20 July 2022, by what calculations the estimate of an ongoing annual administrative burden on UK businesses of £8.2m was arrived at; and if he will place a copy of those calculations in the library of the House.
tabling member constituency	Orpington
tabling member printed	Gareth Bacon
uin	136746
answer	answer is ministerial correction date of answer 08/02/2023 answer text <p>Pillar 2 rules: UK implementation of global minimum corporate tax reforms from 31 December 2023 was announced at Autumn Budget 2022 and is projected to raise over £8.9 billion over the next 5 years.</p><p> </p><p>The £8.2 million average reoccurring annual impact cost was calculated based on HMRC’s Standard Cost Model methodology for determining the administrative impacts of compliant, efficient businesses complying with new measures.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 08/02/2023 16:27:01 answering member 4399 label Biography information for Victoria Atkins
tabling member	4798 label Biography information for Gareth Bacon

1582243

registered interest
date	31/01/2023
answering body	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 the Chancellor of the Exchequer, whether it is his policy that Pillar 2 of the Organisation for Economic Cooperation and Development’s Base Erosion and Profit Shifting 2.0 proposals will not become operational in the UK if international agreement is not reached on Pillar 1.
tabling member constituency	Orpington
tabling member printed	Gareth Bacon
uin	136747
answer	answer is ministerial correction date of answer 07/02/2023 answer text <p>At Autumn Statement 2022, the Government confirmed that Pillar 2 will be implemented in the UK from 31 December 2023. This can be viewed on page 51 of the Autumn Statement document on gov.uk <a href="https://www.gov.uk/government/publications/autumn-statement-2022-documents" target="_blank"><em>https://www.gov.uk/government/publications/autumn-statement-2022-documents</em></a></p><p> </p><p>Alongside this the Government remains focused on delivering a Multilateral Convention on Pillar 1 by mid-2023, in line with the aim set out in the OECD’s Progress Report on Pillar 1 in July 2022, with the aim of that agreement then coming into force as soon as possible.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins grouped question UIN 136522 question first answered 07/02/2023 19:36:02 answering member 4399 label Biography information for Victoria Atkins
tabling member	4798 label Biography information for Gareth Bacon

1582365

registered interest
date	31/01/2023
answering body	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 the Chancellor of the Exchequer, if he will publish the calculations by which an estimate of £2.11bn of revenue in 2024-25 from implementation of the global minimum corporate tax reforms was arrived at.
tabling member constituency	Wimbledon
tabling member printed	Stephen Hammond
uin	136517
answer	answer is ministerial correction date of answer 06/02/2023 answer text <p>The number of Multinational Enterprises which have headquarters in the UK is 387. The latest information can be found in <a href="https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.oecd.org%2Ftax%2Ftax-policy%2Fcorporate-tax-statistics-fourth-edition.pdf&amp;data=05%7C01%7Cpetr.simecek%40hmrc.gov.uk%7C34df251e06a247dc99b708db044fb466%7Cac52f73cfd1a4a9a8e7a4a248f3139e1%7C0%7C0%7C638108512587151294%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=LsJnqOya44BpwAQRRQWFf5%2BKcQUcdD7K9D7Dnhdusdw%3D&amp;reserved=0" target="_blank"><em>https://www.oecd.org/tax/tax-policy/corporate-tax-statistics-fourth-edition.pdf</em></a><em>.</em> The number of multinational enterprises which have operations in the UK, but are headquartered outside of the UK is 4,000.</p><p> </p><p>The process for estimating the Exchequer yield from implementation of Pillar 2 policy in the UK can be found in the Autumn Budget 2022: Policy Costings, available here: <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1118364/Autumn_Statement_2022_Policy_Costings_.pdf" target="_blank"><em>https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1118364/Autumn_Statement_2022_Policy_Costings_.pdf</em></a><em>.</em></p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins grouped question UIN 136518 136521 question first answered 06/02/2023 18:34:15 answering member 4399 label Biography information for Victoria Atkins
tabling member	1585 label Biography information for Stephen Hammond

1582366

registered interest
date	31/01/2023
answering body	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 the Chancellor of the Exchequer, what account was taken of potential behaviour change in estimating revenue arising from implementation of the global minimum corporate tax reforms.
tabling member constituency	Wimbledon
tabling member printed	Stephen Hammond
uin	136518
answer	answer is ministerial correction date of answer 06/02/2023 answer text <p>The number of Multinational Enterprises which have headquarters in the UK is 387. The latest information can be found in <a href="https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.oecd.org%2Ftax%2Ftax-policy%2Fcorporate-tax-statistics-fourth-edition.pdf&amp;data=05%7C01%7Cpetr.simecek%40hmrc.gov.uk%7C34df251e06a247dc99b708db044fb466%7Cac52f73cfd1a4a9a8e7a4a248f3139e1%7C0%7C0%7C638108512587151294%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=LsJnqOya44BpwAQRRQWFf5%2BKcQUcdD7K9D7Dnhdusdw%3D&amp;reserved=0" target="_blank"><em>https://www.oecd.org/tax/tax-policy/corporate-tax-statistics-fourth-edition.pdf</em></a><em>.</em> The number of multinational enterprises which have operations in the UK, but are headquartered outside of the UK is 4,000.</p><p> </p><p>The process for estimating the Exchequer yield from implementation of Pillar 2 policy in the UK can be found in the Autumn Budget 2022: Policy Costings, available here: <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1118364/Autumn_Statement_2022_Policy_Costings_.pdf" target="_blank"><em>https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1118364/Autumn_Statement_2022_Policy_Costings_.pdf</em></a><em>.</em></p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins grouped question UIN 136517 136521 question first answered 06/02/2023 18:34:15 answering member 4399 label Biography information for Victoria Atkins
tabling member	1585 label Biography information for Stephen Hammond

1582369

registered interest
date	31/01/2023
answering body	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 the Chancellor of the Exchequer, with reference to HM Revenue and Customs' policy paper ‘Multinational top-up tax: UK adoption of Organisation for Economic Co-operation and Development Pillar 2, published on 20 July 2022, if he will publish the calculations behind the estimate of £8.2m annual costs to businesses affected by the measure.
tabling member constituency	Wimbledon
tabling member printed	Stephen Hammond
uin	136520
answer	answer is ministerial correction date of answer 08/02/2023 answer text <p>The £8.2 million average reoccurring annual impact cost was calculated based on HMRC’s Standard Cost Model methodology for determining the administrative impacts of compliant, efficient businesses complying with new measures.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 08/02/2023 16:28:20 answering member 4399 label Biography information for Victoria Atkins
tabling member	1585 label Biography information for Stephen Hammond

1582370

registered interest
date	31/01/2023
answering body	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 the Chancellor of the Exchequer, how many multinational enterprises with global revenues in excess of 750 million euros per annum conduct business activities in the UK.
tabling member constituency	Wimbledon
tabling member printed	Stephen Hammond
uin	136521
answer	answer is ministerial correction date of answer 06/02/2023 answer text <p>The number of Multinational Enterprises which have headquarters in the UK is 387. The latest information can be found in <a href="https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.oecd.org%2Ftax%2Ftax-policy%2Fcorporate-tax-statistics-fourth-edition.pdf&amp;data=05%7C01%7Cpetr.simecek%40hmrc.gov.uk%7C34df251e06a247dc99b708db044fb466%7Cac52f73cfd1a4a9a8e7a4a248f3139e1%7C0%7C0%7C638108512587151294%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=LsJnqOya44BpwAQRRQWFf5%2BKcQUcdD7K9D7Dnhdusdw%3D&amp;reserved=0" target="_blank"><em>https://www.oecd.org/tax/tax-policy/corporate-tax-statistics-fourth-edition.pdf</em></a><em>.</em> The number of multinational enterprises which have operations in the UK, but are headquartered outside of the UK is 4,000.</p><p> </p><p>The process for estimating the Exchequer yield from implementation of Pillar 2 policy in the UK can be found in the Autumn Budget 2022: Policy Costings, available here: <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1118364/Autumn_Statement_2022_Policy_Costings_.pdf" target="_blank"><em>https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1118364/Autumn_Statement_2022_Policy_Costings_.pdf</em></a><em>.</em></p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins grouped question UIN 136517 136518 question first answered 06/02/2023 18:34:15 answering member 4399 label Biography information for Victoria Atkins
tabling member	1585 label Biography information for Stephen Hammond

1582371

registered interest
date	31/01/2023
answering body	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 the Chancellor of the Exchequer, whether international agreement on Pillar 1 of the Organisation for Economic Cooperation and Development’s base erosion and profit shifting 2.0 proposals is necessary for Pillar 2 to become operational in the UK..
tabling member constituency	Wimbledon
tabling member printed	Stephen Hammond
uin	136522
answer	answer is ministerial correction date of answer 07/02/2023 answer text <p>At Autumn Statement 2022, the Government confirmed that Pillar 2 will be implemented in the UK from 31 December 2023. This can be viewed on page 51 of the Autumn Statement document on gov.uk <a href="https://www.gov.uk/government/publications/autumn-statement-2022-documents" target="_blank"><em>https://www.gov.uk/government/publications/autumn-statement-2022-documents</em></a></p><p> </p><p>Alongside this the Government remains focused on delivering a Multilateral Convention on Pillar 1 by mid-2023, in line with the aim set out in the OECD’s Progress Report on Pillar 1 in July 2022, with the aim of that agreement then coming into force as soon as possible.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins grouped question UIN 136747 question first answered 07/02/2023 19:36:02 answering member 4399 label Biography information for Victoria Atkins
tabling member	1585 label Biography information for Stephen Hammond