The Government is delighted that more than 130 countries reached agreement on a Two-Pillar solution to the tax challenges arising from the digitalisation of the economy, on the 8 October 2021.<\/p>
<\/p>
As outlined in the October 2021 Statement, the OECD will seek to develop an implementation framework by the end of 2022 which will be designed to facilitate the co-ordinated implementation and administration of the GloBE Rules.<\/p>
<\/p>
Discussions on the implementation framework are ongoing and public input was recently sought on the issues that should be addressed as part of this work, including the question of whether mechanisms are needed to avoid the risk of double taxation: https://www.gov.uk/government/consultations/oecd-pillar-2-consultation-on-implementation<\/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" : "2022-04-26", "_datatype" : "dateTime"}
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, "questionFirstAnswered" : [{"_value" : "2022-04-26T15:33:18.553Z", "_datatype" : "dateTime"}
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, "answeringDeptShortName" : {"_value" : "Treasury"}
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, "date" : {"_value" : "2022-04-14", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Corporation Tax"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
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], "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/1447", "label" : {"_value" : "Biography information for Andrew Rosindell"}
}
, "tablingMemberConstituency" : {"_value" : "Romford"}
, "tablingMemberPrinted" : [{"_value" : "Andrew Rosindell"}
], "uin" : "153791"}
, {"_about" : "http://data.parliament.uk/resources/1434253", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1434253/answer", "answerText" : {"_value" : " The Government is glad that on 8 October 2021 more than 130 countries reached agreement on a Two-Pillar Solution to the tax challenges arising from the digitalisation of the economy.<\/p> <\/p> As per the detailed implementation plan set out in the October 2021 statement, the aim is that both Pillar 1 and Pillar 2 will be implemented and effective by 2023. However, we cannot comment on the Organisation for Economic Co-operation and Development\u2019s funding requirements in this respect.<\/p> <\/p> As part of the implementation process, both Pillars will be subject to the standard tax policymaking process, with their impacts formally assessed through the Office for Budget Responsibility\u2019s forecast process.<\/p> <\/p> Monitoring and compliance will be handled by HMRC, utilising their departmental budget allocated as part of the Spending Review 2021.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4517", "label" : {"_value" : "Biography information for Lucy Frazer"}
}
, "answeringMemberConstituency" : {"_value" : "South East Cambridgeshire"}
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, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
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], "questionText" : "To ask the Chancellor of the Exchequer, if he will confirm that Pillar 2 of the OECD Framework on Base Erosion and Profit Shifting will not become operational in the UK in the event that international agreement is not reached on implementing Pillar 1.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/1447", "label" : {"_value" : "Biography information for Andrew Rosindell"}
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, "tablingMemberConstituency" : {"_value" : "Romford"}
, "tablingMemberPrinted" : [{"_value" : "Andrew Rosindell"}
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, {"_about" : "http://data.parliament.uk/resources/1434254", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1434254/answer", "answerText" : {"_value" : " The Government is glad that on 8 October 2021 more than 130 countries reached agreement on a Two-Pillar Solution to the tax challenges arising from the digitalisation of the economy.<\/p> <\/p> As per the detailed implementation plan set out in the October 2021 statement, the aim is that both Pillar 1 and Pillar 2 will be implemented and effective by 2023. However, we cannot comment on the Organisation for Economic Co-operation and Development\u2019s funding requirements in this respect.<\/p> <\/p> As part of the implementation process, both Pillars will be subject to the standard tax policymaking process, with their impacts formally assessed through the Office for Budget Responsibility\u2019s forecast process.<\/p> <\/p> Monitoring and compliance will be handled by HMRC, utilising their departmental budget allocated as part of the Spending Review 2021.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4517", "label" : {"_value" : "Biography information for Lucy Frazer"}
}
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, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
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], "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/1447", "label" : {"_value" : "Biography information for Andrew Rosindell"}
}
, "tablingMemberConstituency" : {"_value" : "Romford"}
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, {"_about" : "http://data.parliament.uk/resources/1384296", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1384296/answer", "answerText" : {"_value" : " The government is delighted that a final political agreement has been reached on the framework for a two-pillar solution.<\/p> <\/p>