Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, with reference to paragraph 1.243 of the Autumn Statement 2014, how he plans to assess the profits made by multinational corporations for the purpose of the diverted profits tax.

The legislation for the Diverted Profits Tax, and associated guidance, was published in draft form for technical consultation on the 10 December. This sets out in detail proposals as to how profits will be calculated for purposes of imposing a tax charge under the legislation. The period for technical consultation will conclude on the 4 February, after which the legislation and guidance will be finalised, with the intention of introducing this measure from 1 April 2015.