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U.K. Chancellor Alistair Darling is set to announce a tax framework for multinationals on Monday in a conference, reports said.
The draft document, titled Tax Framework for Multinationals, would highlight how the government has planned to ease the complexity in the corporate tax system. It will also outline government's determination to secure fairness, competitiveness, simplicity and certainty while minimizing distortions, the Financial Times reported.
Prime Minister Gordon Brown and Business Secretary Peter Mandelson are also expected to attend the conference.
The framework is part of gaining credibility with business leaders as the election is nearing. Brown's Labor Party and David Cameron's Conservatives are working hard to get a strong hold among business leaders.
The draft document was prepared after discussions with senior executives, which Darling started in April 2008, when the financial crisis was at its peak.
About 250 chief executives, entrepreneurs and academics from around the world are expected to attend the Global Investment Conference in West London today, including Ford, Hitachi, Bombardier, China Merchants Bank, Burberry, Lockheed Martin, Mercedes and Finmeccanica.
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