Multinational Companies: Tax Avoidance

Treasury written question – answered on 24th May 2022.

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Photo of Virendra Sharma Virendra Sharma Labour, Ealing, Southall

To ask the Chancellor of the Exchequer, whether his Department plans to increase the number of staff in his Department assigned to work on tackling tax avoidance by multinational companies.

Photo of Lucy Frazer Lucy Frazer The Financial Secretary to the Treasury

The Government has taken significant steps, domestically and internationally, to ensure companies pay the right amount of tax on their UK activities. That includes measures aimed at countering aggressive tax planning techniques like the introduction of the Diverted Profits Tax. It also includes taking a leading role in OECD discussions to reform the international tax framework and the agreement to a global minimum Corporation Tax as part of a two-pillar solution which helps ensure that the right companies pay the right amount of tax in the right place.

Further, the Government has ensured that HMRC has the resources it needs through investing over £2 billion in HMRC since 2010 and allocating almost £300 million additional funding in the 2021 spending review to tackle avoidance, evasion and other forms of non-compliance

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