Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether negotiators acting on behalf of the Government at meetings of the Steering Group of the Inclusive Framework on base erosion and profit shifting as part of the OECD/ G20 international tax negotiations held in the week of in the week commencing 17 May 2021 were instructed to support a global corporate minimum tax rate for large multinational firms of (a) 21 per cent, (b) 15 per cent and (c) any other rate.

OECD proposals to update the international tax framework have been under negotiation for a number of years and the UK has been at the forefront of these talks.

A global minimum tax (Pillar 2) is an important part of the package being developed by the OECD.

The Government supports agreement on a global minimum tax. It is also crucial that this is agreed alongside changes to profit allocation rules (Pillar 1). Pillar 1 is needed to ensure that large digital businesses pay more tax in the UK, commensurate with their economic activities.

The final agreement is still subject to international negotiation and it would not be appropriate for the Government to provide a detailed commentary on its approach to these discussions.