xFqyM8QF
type: Answer
type: WrittenAnswer
answer has question: 8CNjytzX
answer has answering person: QAHSUmv8
answer text: As part of the tax policy making process, the Government routinely holds public consultations on tax policy ahead of implementation. Since international agreement on the BEPS project in 2015, the Government has consulted ahead of the introduction of new rules in accordance with the BEPS actions. This includes on hybrid mismatch rules, the tax deductibility on corporate interest expense and country by country reporting. The Government has recently demonstrated its commitment to consultation. In 2022, the Government consulted on the implementation of Pillar 2 in the UK and published a response in July 2022 which can be accessed on gov.uk at https://www.gov.uk/government/consultations/oecd-pillar-2-consultation-on-implementation. In July 2022, the Government also led a technical consultation on Income Inclusion Rule draft legislation published on gov.uk at https://www.gov.uk/government/publications/introduction-of-the-new-multinational-top-up-tax. Following consultation, the Government confirmed at Autumn Statement 2022 that it will implement the OECD Pillar 2 rules for accounting periods beginning on or after 31 December 2023.
answer given date: 2023-01-31+00:00
answer has answering body: HYfypSOE
written answer has answering body: HYfypSOE