To ask Mr Chancellor of the Exchequer, when he plans to respond to the concluding observations and recommendations of the UN Committee on Economic, Social and Cultural Rights on the UK's sixth periodic report in relation to fiscal policy, corporate tax, inheritance tax and domestic and global tax abuse; and if he will make a statement.
12 September 2016
In paragraph 73 of the UN recommendations, the UN requested that the UK submits its next period report under the Covenant (inclusive of a response to all the recommendations from this year’s examination) by 30 June 2021; it would therefore not be appropriate to pre-empt this report by anticipating what we, or indeed a future UK Government in 2021, might say.
The government is committed to a competitive and fair tax system and to tackling tax evasion and avoidance by multinational companies. The UK has played a leading role in the development and implementation of the G20/OECD Base Erosion and Profit Shifting Project, which is aimed at ensuring that tax is paid on profits in the country in which they are generated. On tax evasion, the UK has also led on the development of the new global standard for the automatic exchange of information between countries on offshore accounts. All of the UK’s Overseas Territories and Crown Dependencies have signed up to this new Common Reporting Standard and will begin exchanging information with the UK this month.