Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps he has taken to assess the extent of (a) domestic tax base erosion and profit shifting and (b) tax avoidance by multinational shipping companies registered in the UK.

The Government has not carried out any sector-specific assessment of the extent of base erosion and profit shifting or tax avoidance by multinational shipping enterprises. However, the UK has led on international measures to combat base erosion and profit-shifting by multinationals. In particular, the UK has played a leading role in the OECD base erosion and profit shifting project. Since 2015, the UK has introduced a number of key measures to combat multinational tax planning, including diverted profits tax, corporate interest restriction, hybrid mismatch rules, and rules dealing with offshore receipts from intangible property.