IRRV Alert - week ending 29th January 2016

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A Dynamic Scotland: The Role of Competitive and Fair Taxes

 

 

 

 

 

 I am pleased to report that the Independent Commission for Competitive and Fair Taxation published its findings yesterday after almost a year of deliberations. You can download the final report by clicking here.

 We have relied on evidence submitted to us by a broad range of organisations and individuals of which you were one. The Chairman and I would like to express our thanks to you for taking the time to send in your views.

 Our central recommendation is that – in order to ensure Scotland’s retains a competitive edge – the overall tax burden should not be any higher than in any other part of the United Kingdom, and lower when affordable. We make a series of specific recommendations on the basket of new and existing powers coming to the Scottish Parliament.

 * On income tax, we back the creation of a new middle band – at around 30% – to ensure fewer aspirational families are dragged into the upper band. We also recommend politicians in Scotland do not raise the upper rate of tax, warning that such a measure could drive out wealth creators.

 * We back a freeze in business rates for the course of the next Scottish Parliament, to offset the 42% increase in rates since 2007.

 * We support a reformed, fairer, Council tax with reliefs aimed at low income households across the bands.

 * We conclude that the new Land and Buildings Transaction tax is unfair and – over the longer term – should be abolished.

 * And on Air Passenger Duty, our report backs its replacement with a new competitive Departure Tax, with a more progressive structure linked to travel distance.

 The recommendations and report are entirely independent of all political parties in Scotland, and are published with the aim of supporting the debate on Scotland’s new devolution era ahead of this May’s Scottish elections.

I hope you find this an interesting read.

 Thank you once again for engaging with the Commission and sending in your views.

 Yours faithfully,

Marek

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Marek Zemanik

Commission Secretary


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