The government has legislated for the Pillar 2 Multinational top-up tax (MTT) and Domestic top-up tax (DTT) for implementation from 31 December 2023.<\/p>
<\/p>
An updated Tax Impact and Information Note and costing were published at Spring Budget 2023. An update on the latest revenue forecast from the OBR and a status update on international implementation will be provided at Autumn Statement 2023.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4399", "label" : {"_value" : "Biography information for Victoria Atkins"} } , "answeringMemberConstituency" : {"_value" : "Louth and Horncastle"} , "answeringMemberPrinted" : {"_value" : "Victoria Atkins"} , "dateOfAnswer" : {"_value" : "2023-10-24", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2023-10-24T11:57:12.567Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2023-10-16", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Corporation Tax"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Chancellor of the Exchequer, what progress he has made on implementation of OECD Pillar 2 on corporation tax; and if he will make an assessment of the potential economic impact of that implementation.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4066", "label" : {"_value" : "Biography information for Priti Patel"} } , "tablingMemberConstituency" : {"_value" : "Witham"} , "tablingMemberPrinted" : [{"_value" : "Priti Patel"} ], "uin" : "202680"} , {"_about" : "http://data.parliament.uk/resources/1579771", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1579771/answer", "answerText" : {"_value" : "
The UK is a member of the Organisation for Economic Cooperation and Development (OECD)/Group of Twenty (G20) Inclusive Framework on Base Erosion and Profit Shifting (BEPS), which is collaborating on 15 actions to address tax avoidance.<\/p>
The OECD sets out the 15 BEPS actions at https://www.oecd.org/tax/beps/beps-actions/<\/a>.<\/p> The recent focus of developments in international tax has been the Two-Pillar Solution to address the tax challenges arising from the digitalisation of the economy.<\/p> The OECD published the two-pillar agreement in 2021, so far signed by 138 countries including the UK, which can be accessed at https://www.oecd.org/tax/beps/statement-on-a-two-pillar-solution-to-address-the-tax-challenges-arising-from-the-digitalisation-of-the-economy-october-2021.htm<\/a>.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4399", "label" : {"_value" : "Biography information for Victoria Atkins"}
}
, "answeringMemberConstituency" : {"_value" : "Louth and Horncastle"}
, "answeringMemberPrinted" : {"_value" : "Victoria Atkins"}
, "dateOfAnswer" : {"_value" : "2023-01-31", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2023-01-31T15:18:06.497Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2023-01-23", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Corporation Tax"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Chancellor of the Exchequer, if he will publish the most recent version of the agreement on the Organisation for Economic Co-operation and Development\u2019s Base Erosion and Profit Shifting framework.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4066", "label" : {"_value" : "Biography information for Priti Patel"}
}
, "tablingMemberConstituency" : {"_value" : "Witham"}
, "tablingMemberPrinted" : [{"_value" : "Priti Patel"}
], "uin" : "129766"}
, {"_about" : "http://data.parliament.uk/resources/1579772", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1579772/answer", "answerText" : {"_value" : " The Organisation for Economic Cooperation and Development (OECD) is publicly consulting on tax certainty in the pillar 2 rules, covering dispute prevention and dispute resolution mechanisms, until 3 February 2023. This includes options for legal instruments to implement the dispute resolution process.<\/p> <\/p> The public consultation can be accessed online at https://www.oecd.org/tax/beps/oecd-invites-comments-on-compliance-and-tax-certainty-aspects-of-global-minimum-tax.htm<\/a>.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4399", "label" : {"_value" : "Biography information for Victoria Atkins"}
}
, "answeringMemberConstituency" : {"_value" : "Louth and Horncastle"}
, "answeringMemberPrinted" : {"_value" : "Victoria Atkins"}
, "dateOfAnswer" : {"_value" : "2023-01-31", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2023-01-31T15:20:59.323Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2023-01-23", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Corporation Tax"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Chancellor of the Exchequer, whether a disputes resolution mechanism agreed as part of the Organisation for Economic Cooperation and Development\u2019s BEPS 2.0 Pillar 2 proposals would be binding upon UK courts.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4066", "label" : {"_value" : "Biography information for Priti Patel"}
}
, "tablingMemberConstituency" : {"_value" : "Witham"}
, "tablingMemberPrinted" : [{"_value" : "Priti Patel"}
], "uin" : "129767"}
, {"_about" : "http://data.parliament.uk/resources/1579773", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1579773/answer", "answerText" : {"_value" : "At Autumn Statement 2022, the Government set out that Pillar 2 will raise £2.3 billion a year by 2027-28. <\/p> <\/p>An estimate of HMRC operational costs to implement Pillar 2 was published in a tax information and impact note in July 2022. This can be accessed on GOV.UK at https://www.gov.uk/government/publications/introduction-of-the-new-multinational-top-up-tax/multinational-top-up-tax-uk-adoption-of-organisation-for-economic-co-operation-and-development-pillar-2<\/a> <\/p> <\/p> <\/p>The Government will publish an updated tax information and impact note at the Spring Budget. "}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4399", "label" : {"_value" : "Biography information for Victoria Atkins"}
}
, "answeringMemberConstituency" : {"_value" : "Louth and Horncastle"}
, "answeringMemberPrinted" : {"_value" : "Victoria Atkins"}
, "dateOfAnswer" : {"_value" : "2023-01-31", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2023-01-31T15:27:58.737Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2023-01-23", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Corporation Tax"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Chancellor of the Exchequer, what additional funding will be required by (a) his Department and (b) the OECD to ensure monitoring and compliance with the proposed Pillar 2 rules of BEPS 2.0.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4066", "label" : {"_value" : "Biography information for Priti Patel"}
}
, "tablingMemberConstituency" : {"_value" : "Witham"}
, "tablingMemberPrinted" : [{"_value" : "Priti Patel"}
], "uin" : "129817"}
, {"_about" : "http://data.parliament.uk/resources/1579775", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1579775/answer", "answerText" : {"_value" : " As part of the tax policy making process, the Government routinely holds public consultations on tax policy ahead of implementation.<\/p> Since international agreement on the BEPS project in 2015, the Government has consulted ahead of the introduction of new rules in accordance with the BEPS actions. This includes on hybrid mismatch rules, the tax deductibility on corporate interest expense and country by country reporting.<\/p> The Government has recently demonstrated its commitment to consultation. In 2022, the Government consulted on the implementation of Pillar 2 in the UK and published a response in July 2022 which can be accessed on gov.uk at https://www.gov.uk/government/consultations/oecd-pillar-2-consultation-on-implementation<\/em><\/a>.<\/em><\/p> In July 2022, the Government also led a technical consultation on Income Inclusion Rule draft legislation published on gov.uk at https://www.gov.uk/government/publications/introduction-of-the-new-multinational-top-up-tax<\/em><\/a>.<\/em><\/p> Following consultation, the Government confirmed at Autumn Statement 2022 that it will implement the OECD Pillar 2 rules for accounting periods beginning on or after 31 December 2023.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4399", "label" : {"_value" : "Biography information for Victoria Atkins"}
}
, "answeringMemberConstituency" : {"_value" : "Louth and Horncastle"}
, "answeringMemberPrinted" : {"_value" : "Victoria Atkins"}
, "dateOfAnswer" : {"_value" : "2023-01-31", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2023-01-31T15:13:03.65Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2023-01-23", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Corporation Tax"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Chancellor of the Exchequer, if he will make it his policy to hold a formal public consultation before bringing forward legislative proposals to implement the Organisation for Economic Co-operation and Development\u2019s base Erosion and Profit Shifting framework.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4066", "label" : {"_value" : "Biography information for Priti Patel"}
}
, "tablingMemberConstituency" : {"_value" : "Witham"}
, "tablingMemberPrinted" : [{"_value" : "Priti Patel"}
], "uin" : "129818"}
, {"_about" : "http://data.parliament.uk/resources/1563092", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1563092/answer", "answerText" : {"_value" : "Estimates of the IT and administrative costs associated with the increase in the rate of Corporation Tax were set out in the tax information impact note (TIIN) published at Spring Budget 2021 when the rate increase was announced."}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4399", "label" : {"_value" : "Biography information for Victoria Atkins"}
}
, "answeringMemberConstituency" : {"_value" : "Louth and Horncastle"}
, "answeringMemberPrinted" : {"_value" : "Victoria Atkins"}
, "dateOfAnswer" : {"_value" : "2023-01-09", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2023-01-09T13:58:14.613Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2022-12-19", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Corporation Tax"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Chancellor of the Exchequer, if he will publish the estimate of the cost to the public purse, including money spent IT systems and staff, of the decision to cancel the freeze in the rate of Corporation Tax announced on 23 September 2022 and to increase the rate to 25 per cent.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4797", "label" : {"_value" : "Biography information for James Murray"}
}
, "tablingMemberConstituency" : {"_value" : "Ealing North"}
, "tablingMemberPrinted" : [{"_value" : "James Murray"}
], "uin" : "113466"}
, {"_about" : "http://data.parliament.uk/resources/1539355", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1539355/answer", "answerText" : {"_value" : " The economic and fiscal impact of changes in Corporation Tax policy are factored into the Office for Budget Responsibility\u2019s forecasts. Further detail is available in the OBR\u2019s Economic and Fiscal Outlook which is published at fiscal events.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4726", "label" : {"_value" : "Biography information for Baroness Penn"}
}
, "answeringMemberPrinted" : {"_value" : "Baroness Penn"}
, "dateOfAnswer" : {"_value" : "2022-11-17", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2022-11-17T14:47:12.81Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2022-11-03", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Corporation Tax"}
, "houseId" : {"_value" : "2"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"}
}
], "questionText" : "To ask His Majesty's Government what forecast they have made of the impact of stabilising corporation tax levels on the UK\u2019s economic forecast.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/1796", "label" : {"_value" : "Biography information for Lord Taylor of Warwick"}
}
, "tablingMemberPrinted" : [{"_value" : "Lord Taylor of Warwick"}
], "uin" : "HL3217"}
, {"_about" : "http://data.parliament.uk/resources/1491664", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1491664/answer", "answerText" : {"_value" : " The UK\u2019s main rate of Corporation Tax is currently legislated to increase from 19 per cent to 25 per cent from April 2023. The Prime Minister has committed to cancel this rate increase. The Chancellor will set out any plans on tax and implementation in due course.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/3912", "label" : {"_value" : "Biography information for Richard Fuller"}
}
, "answeringMemberConstituency" : {"_value" : "North East Bedfordshire"}
, "answeringMemberPrinted" : {"_value" : "Richard Fuller"}
, "dateOfAnswer" : {"_value" : "2022-09-14", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2022-09-14T09:23:24.673Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2022-07-21", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Corporation Tax"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Chancellor of the Exchequer, if he will make an assessment of the potential impact on the UK economy of (a) cancelling his planned corporation tax rise from 19% to 25% and (b) reducing that rate to 15%.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4829", "label" : {"_value" : "Biography information for Sam Tarry"}
}
, "tablingMemberConstituency" : {"_value" : "Ilford South"}
, "tablingMemberPrinted" : [{"_value" : "Sam Tarry"}
], "uin" : "42273"}
, {"_about" : "http://data.parliament.uk/resources/1490084", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1490084/answer", "answerText" : {"_value" : " The OECD\u2019s two pillar solution to the tax challenges resulting from digitalisation represents a major reform of the international tax framework and will help to ensure multinational businesses pay their fair share, with the right companies paying the right amount of tax in the right place.<\/p> <\/p> On 20 July 2022, the Government published a response to the consultation on the implementation of Pillar 2 in the UK. The response can be found here: https://www.gov.uk/government/consultations/oecd-pillar-2-consultation-on-implementation<\/a>. Draft legislation was also published, and the Government welcomes further consultation on this. The draft legislation can be found here: https://www.gov.uk/government/publications/introduction-of-the-new-multinational-top-up-tax<\/a>.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4517", "label" : {"_value" : "Biography information for Lucy Frazer"}
}
, "answeringMemberConstituency" : {"_value" : "South East Cambridgeshire"}
, "answeringMemberPrinted" : {"_value" : "Lucy Frazer"}
, "dateOfAnswer" : {"_value" : "2022-07-21", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2022-07-21T13:03:02.467Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2022-07-18", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Corporation Tax"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Chancellor of the Exchequer, what steps his Department has taken in response to the closure of the consultation on implementation of OECD Pillar 2.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4518", "label" : {"_value" : "Biography information for Tulip Siddiq"}
}
, "tablingMemberConstituency" : {"_value" : "Hampstead and Kilburn"}
, "tablingMemberPrinted" : [{"_value" : "Tulip Siddiq"}
], "uin" : "38739"}
, {"_about" : "http://data.parliament.uk/resources/1489068", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1489068/answer", "answerText" : {"_value" : " The Government is not currently planning to suspend Corporation Tax. Any future changes to Corporation Tax will be set out to Parliament in the usual way.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4726", "label" : {"_value" : "Biography information for Baroness Penn"}
}
, "answeringMemberPrinted" : {"_value" : "Baroness Penn"}
, "dateOfAnswer" : {"_value" : "2022-07-26", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2022-07-26T13:37:59.447Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2022-07-13", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Corporation Tax"}
, "houseId" : {"_value" : "2"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"}
}
], "questionText" : "To ask Her Majesty's Government what plans they have to suspend corporate income tax for a limited period of time.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/1796", "label" : {"_value" : "Biography information for Lord Taylor of Warwick"}
}
, "tablingMemberPrinted" : [{"_value" : "Lord Taylor of Warwick"}
], "uin" : "HL1756"}
], "itemsPerPage" : 10, "next" : "http://eldaddp.azurewebsites.net/answeredquestions.text?_page=1&min-date=2017-06-23®isteredInterest=false&hansardHeading=Corporation+Tax", "page" : 0, "startIndex" : 1, "totalResults" : 81, "type" : ["http://purl.org/linked-data/api/vocab#ListEndpoint", "http://purl.org/linked-data/api/vocab#Page"]}
}