|Printable version||E-mail this to a friend|
First ever Welsh Tax legislation passed
A historic new Bill putting in place arrangements for the collection and management of devolved taxes is to become the first ever piece of Welsh Tax legislation after being passed by the National Assembly for Wales.
Stamp Duty Land Tax and Landfill Tax will be devolved to Wales from April 2018 and will be replaced by two new taxes - Land Transaction Tax (LTT) and Landfill Disposals Tax (LDT). These two new taxes will be the first Welsh taxes in 800 years.
Once law, the Tax Collection and Management Bill will put in place arrangements to enable the collection and management of devolved taxes, providing revenue that is essential to help fund vital public services.
The new legislation establishes the Welsh Revenue Authority (WRA) and will confer powers and duties to enable it to collect and manage devolved taxes. It also provides for a Taxpayers’ Charter that will set out the relationship between the WRA and taxpayers.
Welcoming the passing of the Bill by the National Assembly, Finance and Government Business Minister Jane Hutt said: “This is a historic day for Wales with the passing of the first ever piece of Welsh tax legislation. It is another significant chapter in the story of Welsh devolution.
“Once law, the Tax Collection and Management Bill enables us to make the essential arrangements for our new devolved tax responsibilities and paves the way for us to put in place taxes that are more suited to Welsh circumstances and preferences – the first Welsh taxes in 800 years. This new tax legislation will make a real difference to people’s lives.
“We have worked closely with those who will be affected by these new powers and responsibilities whilst developing this Bill. Civil Society, Businesses and taxpayers in Wales deserve a system of taxation that is fundamentally simple, fair, transparent and, where appropriate consistent with existing UK tax arrangements.
“This new Bill will help us achieve this - minimising the burden on taxpayers, ensuring a smooth transition to the new arrangements and assisting tax compliance. At its core it represents our collective commitment to a self-confident, fairer and more prosperous Wales – it is an exciting and important next step on our road to tax devolution.”
Latest News from
Best ambulance performance in a year – Vaughan Gething27/10/2016 09:05:00
Almost 80% of emergency calls for an ambulance received a response on scene within eight minutes in September.
Environment Secretary officially opens Merthyr community energy scheme26/10/2016 16:50:00
A community energy scheme which will use profits to enhance a local park was officially opened yesterday by the Environment Secretary, Lesley Griffiths.
First Minister welcomes plans to expand Heathrow26/10/2016 13:48:00
First Minister of Wales Carwyn Jones has welcomeed plans to expand Heathrow.
Funding to help young people & teachers Show Racism the Red Card26/10/2016 11:05:00
The Welsh Government has announced £16,000 of funding to support the work of a leading education charity which uses sport to tackle racism.