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>
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The OECD\u2019s 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>
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The government will set out further detail on implementation in the UK in line with the international agreement in due course.<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/1529", "label" : {"_value" : "Biography information for Mr David Gauke"} } , "answeringMemberConstituency" : {"_value" : "South West Hertfordshire"} , "answeringMemberPrinted" : {"_value" : "Mr David Gauke"} , "dateOfAnswer" : {"_value" : "2015-06-25", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-06-25T15:13:34.637Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2015-06-22", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Multinational Companies: Taxation"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "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.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4432", "label" : {"_value" : "Biography information for Patrick Grady"} } , "tablingMemberConstituency" : {"_value" : "Glasgow North"} , "tablingMemberPrinted" : [{"_value" : "Patrick Grady"} ], "uin" : "3541"} , {"_about" : "http://data.parliament.uk/resources/384646", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/384646/answer", "answerText" : {"_value" : "
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>
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The OECD\u2019s 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>
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The government will set out further detail on implementation in the UK in line with the international agreement in due course.<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/1529", "label" : {"_value" : "Biography information for Mr David Gauke"} } , "answeringMemberConstituency" : {"_value" : "South West Hertfordshire"} , "answeringMemberPrinted" : {"_value" : "Mr David Gauke"} , "dateOfAnswer" : {"_value" : "2015-06-25", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-06-25T14:59:02.93Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2015-06-22", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Multinational Companies: Taxation"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "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.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4432", "label" : {"_value" : "Biography information for Patrick Grady"} } , "tablingMemberConstituency" : {"_value" : "Glasgow North"} , "tablingMemberPrinted" : [{"_value" : "Patrick Grady"} ], "uin" : "3542"} , {"_about" : "http://data.parliament.uk/resources/384647", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/384647/answer", "answerText" : {"_value" : "
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\u2019s global business, whilst ensuring the administrative costs for businesses are minimised.<\/p>
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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>
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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>
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<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/1529", "label" : {"_value" : "Biography information for Mr David Gauke"} } , "answeringMemberConstituency" : {"_value" : "South West Hertfordshire"} , "answeringMemberPrinted" : {"_value" : "Mr David Gauke"} , "dateOfAnswer" : {"_value" : "2015-06-25", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-06-25T15:17:11.203Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2015-06-22", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Multinational Companies: Taxation"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "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.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4432", "label" : {"_value" : "Biography information for Patrick Grady"} } , "tablingMemberConstituency" : {"_value" : "Glasgow North"} , "tablingMemberPrinted" : [{"_value" : "Patrick Grady"} ], "uin" : "3543"} ], "itemsPerPage" : 10, "page" : 0, "startIndex" : 1, "totalResults" : 3, "type" : ["http://purl.org/linked-data/api/vocab#ListEndpoint", "http://purl.org/linked-data/api/vocab#Page"]} }