Priti Patel
Main Page: Priti Patel (Conservative - Witham)Department Debates - View all Priti Patel's debates with the HM Treasury
(1 year, 6 months ago)
Commons ChamberI thank my right hon. Friend for her question. The pillar two rules mean that large companies—these are defined as businesses with revenues of €750 million or more—are subject to a top-up tax if the profits that they make are not subject to at least a 15% tax. The reason that the international community is coming together to draw up these rules is precisely to do with the new shape that all our economies are taking, with international businesses spreading out around the world. We are trying to find a way to ensure that those very profitable businesses pay their fair share of tax.