From today, 1st April, the Scottish Government new agency comes into effect. For the first time in 300 year the Scottish parliament has the authority to set taxes which will be administered by Revenues Scotland.
The two new taxes which will be collected are Land and Buildings Transaction Tax, which replaces Stamp Duty, and Scottish Landfill Tax which replaces the UK Landfill Tax. The powers to set and collect these taxes follow the passing of the Scotland Act 2012
Deputy First Minister John Swinney MSP said of the launch of Revenues Scotland;
“Today is historic. For the first time in 300 years, with the launch of Revenues Scotland, Scotland is able to collect and manage some of our own taxes.
“Our tax decisions have been driven by the principle that taxes should be proportionate to the ability to pay”