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Framework to give businesses greater certainty on tax policy


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22 February 2010 

The Government today published a draft Tax Framework for business. Developed in discussion with the Business-Government Forum on Tax and Globalisation, the document is intended to provide greater certainty for large businesses about the Government's approach to the development of tax policy.

The Government is seeking feedback on the draft, which sets out:

* The key principles underpinning the development of tax policy – including securing fairness, competitiveness and stability for the UK, and ensuring new burdens and complexities are not created for UK business * The policy process the Government follows when developing tax policy, including consultation wherever possible.

The Chancellor of the Exchequer Alistair Darling said:

“The UK is a good place to do business and we want to keep it that way.

“Businesses want certainty on tax. That’s is why today I have set out, in collaboration with UK business, the Government’s key principles for tax policy and how we will engage with business when developing tax policy” Notes for editors

1. The principal purpose of the tax framework for business is to set out a short and clear statement on the Government’s principles for UK tax policy and how it engages with business in developing tax policy.

2. The draft framework has been developed in collaboration with the Business-Government forum on Tax and globalisation.

3. The draft Tax Framework is available on the HM Treasury website.

4. The Chancellor of the Exchequer, the Rt Hon Alistair Darling MP, set up the forum in April 2008. Its key aim was to discuss ways in which the tax system could provide the long-term certainty multinational companies need, considering competitiveness and other challenges facing businesses and government. See HM Treasury Press Notices 42/08 and 46/08 for more details.

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Article Published/Sorted/Amended on Scopulus 2010-02-25 10:15:45 in Tax Articles

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