Commons Sense

House of Commons · Public Bill Committee

- Sitting 5

11 June 2020

Proposed by Jesse Norman Con Hereford and South Herefordshire

Taxation

Summarised by AI from the official record, so it can contain mistakes.

At a glance

Key points

  • The government introduced tax law changes to address revenue generation and ineffective tax rules.
  • The MP highlighted the proactive approach to implementing progressive tax changes.
  • Discussed impacts on high street businesses with evolving hybrid models.

Issue summary

The statement addresses the introduction and timing of tax law changes aimed at addressing revenue generation and ineffective tax rules.

Action requested

The MP highlights the government's proactive approach to implementing progressive tax changes, including diverted profits tax, base erosion and profit-shifting measures, and corporate interest restriction rules. The speaker also discusses the impact of these changes on high street businesses and their evolving hybrid models with online components.

Key facts

  • The Government has been at the forefront of progressive tax changes in recent years.
  • Tax law changes include diverted profits tax, base erosion and profit-shifting measures, corporate interest restriction rules, and private country-by-country reporting rules.
  • High street businesses have evolved to incorporate online components but will not be significantly affected by the new tax due to their size.
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