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”