Question to the HM Treasury:

To ask Her Majesty's Government what steps they are taking to collect more tax revenue from large multinational companies.

The Government has taken significant steps, domestically and internationally, to ensure that multinationals pay the right amount of tax in the UK.

The UK has led on initiating the OECD Base Erosion and Profit Shifting project and in delivering its recommendations into domestic legislation, for example the corporate interest restriction.

In April 2015, the Government introduced the Diverted Profits Tax which seeks to counter contrived arrangements used to divert profits away from the UK.

At Budget 2018, the Chancellor announced the introduction of the Digital Services Tax, intended to ensure that digital businesses pay UK tax which reflects the value they derive from UK users.