Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what estimate he has made of the additional tax revenue to be accrued from potential changes in the international tax rules (a) as a result of the G20/OECD project on base erosion and profit shifting and (b) by the Government.

The OECD’s 15 point Action Plan on Base Erosion and Profit Shifting (BEPS) was developed jointly by G20 and OECD countries and was endorsed in 2013 at the G20 St Petersburg Summit. The UK provides one of the deputy-chairs for the steering group of the OECD’s Inclusive Framework on BEPS and is committed to implementing the OECD’s recommendations.

Since 2013, the UK has implemented, or is in the process of implementing, 9 policy measures which are expected to increase receipts by tackling BEPS. Through these measures, listed below, we expect to accrue an additional £2.6 billion per annum by the tax year 2019/20.

These figures reflect the latest published costings for each measure.

We are continuing to work with the OECD to develop recommendations on BEPS, and any future measures in this area will be assessed and costed as part of the fiscal event process.