HMRC says the UK is expected to miss out on about £600 million in tax revenue each year because the United States receives an exemption under the global minimum tax framework agreed by many countries. The figure is reported as part of Parliament’s scrutiny by the Public Accounts Committee into how tax is paid by large multinational firms.
The reporting links the shortfall to a landmark international arrangement designed to curb profit shifting by imposing a 15% global minimum tax. Under the deal, nearly 150 countries agree to the minimum rate, but the US is exempt from the same rules. As a result, HMRC confirms the anticipated reduction in tax receipts the UK would otherwise expect to collect.
Across the articles, the emphasis is on the confirmed estimate from HMRC and the policy effect of the US exemption on the UK’s expected revenue. The coverage does not dispute the size of the estimate and frames it as an issue raised during parliamentary oversight of multinational tax payments.
