With this it will be convenient to discuss the following:

Government amendments 142 to 146.

Amendment 109, in clause 219, page 128, line 8, at end add—

‘(8) Her Majesty’s Revenue and Customs shall review the possibility of bringing forward measures to work in conjunction with other G8 countries and the members of the Organisation for Economic Co-operation and Development, to require multi-national companies to publish a single easily comparable figure for the amount of corporation tax they pay, and within six months of the passage of this Act, place a copy of the review in the House of Commons Library.

(9) The Chancellor of the Exchequer shall review the effects of incorporating a global standard for public registration of ownership of companies and trusts via a convention on tax transparency, including a requirement on companies to publish a single easily comparable figure for the amount of corporation tax they pay in the UK, on Treasury tax receipts within six months of the passage of this Act, and consult with G8 countries on their effectiveness. He shall place a copy of the review in the House of Commons Library.’.

Clause stand part.

New clause 6—Transfer pricing arrangements—

‘Within 30 days of the coming into force of this Act, Her Majesty’s Government shall propose to the governments who are members of the Organisation for Economic Co-operation and Development that co-ordinated action be taken at the earliest opportunity to prevent the abuse of transfer pricing arrangements by multi-national corporations and that early consideration should be given to a review of the current Transfer Pricing Guidelines for Multi-national Enterprises and Tax Administrations.’.