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
Economy Secretary officially opens Carpeo Estate Planning in Newport to create 300 jobs over five years20/10/2017 12:05:00
Economy Secretary, Ken Skates was in Cleppa Park in Newport to officially open Carpeo Estates Planning, a company working to demystify the wills and funeral planning process for its clients.
Cabinet Secretary for Education officially opens Campus 6 building project at Pembrokeshire College20/10/2017 10:05:00
The Cabinet Secretary for Education, Kirsty Williams, has officially opened the Campus 6 building project at Pembrokeshire College in Haverfordwest.
Devolution – the age of the recycling revolution20/10/2017 09:05:00
In the 20 years since Wales said yes to Devolution, our recycling rate has increased from just under 5% to 64% - the third best in the world.
Ken Skates leads partners in push for greater road safety in Wales19/10/2017 13:05:00
Although we have some of the safest roads in the world, every death or serious injury is one too many, Economy Sectary Ken Skates said yesterday.
Economy Secretary visits Ford in Bridgend19/10/2017 11:05:00
Economy and Infrastructure Secretary, Ken Skates was at Bridgend Ford to see first hand the preparatory work underway for production of the new Dragon Engine, which was brought to Wales with Welsh Government support to safeguard around 550 quality jobs.