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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