Recommendation 11

It is unclear how the receipts from Pillar One will compare to the Digital Services Tax as HMRC has not yet modelled the likely receipts from businesses liable to pay Pillar One, prior to agreement being reached on how profits will move between countries.31 The Office of Budget Responsibility has estimated revenues of over two billion pounds a year from Pillar Two by 2027–28.32 The Chartered Institute of Taxation has expressed scepticism about achieving this level of receipts, although HM Treasury stated that the estimate is not inconsistent with OECD projections.33 Progress in implementing the reforms