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To ask the Chancellor of the Exchequer, pursuant to the answer of 10 September 2026 to question UIN 27117, what assessment his Department has made of the potential merits of further international co-ordination on Public Country by Country Reporting.
To ask the Chancellor of the Exchequer, pursuant to the answer of 10 September 2026 to question UIN 27117, what assessment his Department has made of the potential merits of further international co-ordination on Public Country by Country Reporting.
I refer the Hon. Member to the answer given on 10 September 2026 to Question UIN 27117.
To ask His Majesty's Government what assessment they have made of the merits of introducing public country by country reporting to tackle profit shifting by large multinational corporations.
To ask His Majesty's Government what assessment they have made of the merits of introducing public country by country reporting to tackle profit shifting by large multinational corporations.
The UK has led the way on international tax reforms to ensure that large multinational enterprises pay their fair share of tax on profits arising from their UK activities. This includes fully implementing the actions agreed through the OECD/G20 Base Erosion and Profit Shifting project, and being at the forefront of development and implementation of the Global Minimum Corporate Tax. These reforms have strengthened the international tax framework and reduced opportunities for multinational groups to shift profits artificially. The UK already requires multinational groups to provide country-by-country reports to HMRC, publishes aggregated country-level data, has public reporting requirements in certain sectors and robust wider reporting requirements. The Government believes that any action on public country-by-country reporting should be coordinated internationally to ensure a consistent and comprehensive approach and to minimise the risk of competitive distortions.
To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of introducing Public Country by Country Reporting.
To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of introducing Public Country by Country Reporting.
To ask the Chancellor of the Exchequer, whether she has made an assessment of whether the UK's tax treaty arbitration arrangements allow multinational companies to delay the collection of UK tax in transfer pricing and Diverted Profits Tax disputes; and whether the Government will review those arrangements to ensure that...
To ask the Chancellor of the Exchequer, whether she has made an assessment of whether the UK's tax treaty arbitration arrangements allow multinational companies to delay the collection of UK tax in transfer pricing and Diverted Profits Tax disputes; and whether the Government will review those arrangements to ensure that...
There is no special provision or allowance under the UK’s tax treaties for the suspension or deferral of tax payments by multinational companies.
For transfer pricing cases, HMRC may suspend collection of the disputed tax while a Mutual Agreement Procedure (MAP) case is ongoing. MAP may include mandatory binding arbitration where provided for under the relevant treaty, however, there is no additional or separate right to delay payment of UK tax in relation to arbitration. Postponement of tax during MAP is only available under the same conditions that apply to domestic administrative or judicial remedies. Interest will continue to accrue, where appropriate, on any underpaid tax ultimately found to be due.
DPT charges cannot be postponed on any grounds. The Diverted Profits Tax (DPT) was repealed by the Finance Act 2026 and replaced by the Unassessed Transfer Pricing Profits (UTPP) rules, as part of a wider package of reforms to simplify and modernise the legislation relating to transfer pricing, diverted profits tax and permanent establishments. Charges under the UTPP rules also cannot be postponed on any grounds, except to the extent that tax has already been paid on the same profits.
Motion that this House has considered Government policy on AI and its impact on society. Motion lapsed.
Motion that this House has considered Government policy on AI and its impact on society. Motion lapsed.
I beg to move,
That this House has considered Government policy on AI and its impact on society.
It is a pleasure to serve with you in the Chair, Ms McVey. I think we all agree that AI is a transformational technology with the potential to bring many benefits to our society,...
I beg to move,
That this House has considered Government policy on AI and its impact on society.
It is a pleasure to serve with you in the Chair, Ms McVey. I think we all agree that AI is a transformational technology with the potential to bring many benefits to our society,...
The hon. Gentleman is making a powerful point about big foreign tech companies. Does he believe that our dependency on six tech companies in all aspects of our lives poses a national security threat and needs to be assessed as such?
The hon. Gentleman is making a powerful point about big foreign tech companies. Does he believe that our dependency on six tech companies in all aspects of our lives poses a national security threat and needs to be assessed as such?
I thank the hon. Member for his intervention; I will deal with AI sovereignty a bit later in my speech.
We should ensure that, like a socialist Government’s approach to energy or water, the public have a stake in the development of AI technology, to ensure that the value it creates...
I thank the hon. Member for his intervention; I will deal with AI sovereignty a bit later in my speech.
We should ensure that, like a socialist Government’s approach to energy or water, the public have a stake in the development of AI technology, to ensure that the value it creates...
The last time we saw a change of such potential scale was when we moved from being a manufacturing economy to being more of a service economy. There were trade-offs at that time, and some people, cities, towns and villages were left behind—including in my constituency. Does my hon. Friend...
The last time we saw a change of such potential scale was when we moved from being a manufacturing economy to being more of a service economy. There were trade-offs at that time, and some people, cities, towns and villages were left behind—including in my constituency. Does my hon. Friend...
I absolutely agree with my hon. Friend’s point about no place being left behind as a result of the AI revolution. I will develop that point a later. We can already see the first signs of AI impacting on work here. We have record numbers of young people not in...
I absolutely agree with my hon. Friend’s point about no place being left behind as a result of the AI revolution. I will develop that point a later. We can already see the first signs of AI impacting on work here. We have record numbers of young people not in...
I congratulate the hon. Gentleman on securing the debate. I spoke to him beforehand; he knows where I am coming from. My concern is for the young people of today looking for the jobs of tomorrow. My grandchildren will have to prepare themselves. We must try to equip young people....
I congratulate the hon. Gentleman on securing the debate. I spoke to him beforehand; he knows where I am coming from. My concern is for the young people of today looking for the jobs of tomorrow. My grandchildren will have to prepare themselves. We must try to equip young people....
Yes, young people and their employment prospects are intrinsically linked to the debate about the future of AI. The hon. Gentleman is right that we have to get that right for those people to have a future.
We also need the Government to introduce a raft of measures to manage AI-driven...
Yes, young people and their employment prospects are intrinsically linked to the debate about the future of AI. The hon. Gentleman is right that we have to get that right for those people to have a future.
We also need the Government to introduce a raft of measures to manage AI-driven...
The hon. Gentleman is focusing on employment and big tech companies; does he agree that we need to go a step back—back to school, teachers and training? Teachers need to prepare their pupils for the future with AI, and for what that means. Does the hon. Gentleman feel that that...
The hon. Gentleman is focusing on employment and big tech companies; does he agree that we need to go a step back—back to school, teachers and training? Teachers need to prepare their pupils for the future with AI, and for what that means. Does the hon. Gentleman feel that that...
I thank the hon. Gentleman for his second intervention—let us see whether he can make it a hat trick before I finish. The reality is that AI is here now. We have to deal with how it impacts on today’s workers and future workers as well. This is not one...
I thank the hon. Gentleman for his second intervention—let us see whether he can make it a hat trick before I finish. The reality is that AI is here now. We have to deal with how it impacts on today’s workers and future workers as well. This is not one...
I apologise in advance, Ms McVey, that I need to go to a Select Committee so cannot attend the full debate. My hon. Friend is, as usual, right about everything. Does he agree that public resistance to the construction of data centres is due not just to concern about the...
I apologise in advance, Ms McVey, that I need to go to a Select Committee so cannot attend the full debate. My hon. Friend is, as usual, right about everything. Does he agree that public resistance to the construction of data centres is due not just to concern about the...
One data centre, even a modest one, uses the same amount of electricity as 100,000 homes. The bigger the data centre, the more electricity it uses. Very few of them run off renewables, so that is another issue we need to address. The communities that host the infrastructure see the...
One data centre, even a modest one, uses the same amount of electricity as 100,000 homes. The bigger the data centre, the more electricity it uses. Very few of them run off renewables, so that is another issue we need to address. The communities that host the infrastructure see the...
I rise in support of much of what the hon. Member for Poole (Neil Duncan-Jordan) has said. He has done a service to this Chamber, and Parliament more generally, by highlighting the threats that AI will bring.
Perhaps I can set the scene by reminding Members present that it took 25...
I rise in support of much of what the hon. Member for Poole (Neil Duncan-Jordan) has said. He has done a service to this Chamber, and Parliament more generally, by highlighting the threats that AI will bring.
Perhaps I can set the scene by reminding Members present that it took 25...