Question to the HM Treasury:

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.

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.

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.