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A new Scottish Bill concerning proposals to amendments of to the devolution of tax powers has been published.
The Bill, which implements the recommendations of the Commission on Scottish Devolution, enables the Scottish Parliament to take on new revenue raising powers.
Part 5 of a report published by Kenneth Calman in its final offering in June 2009, considered revenue and tax raising, in particular, making recommendations for a new financing solution for the Scottish parliament by using devolved taxation.
In future, Holyrood will have to set a Scottish income tax rate each year to raise a significant share of the revenue it spends. The power will be available from 2015 and will apply equally to the basic, higher and additional rates of income tax.
In addition, the Office for Budget Responsibility will begin to provide forecasts of Scottish income tax, landfill tax and stamp duty land tax.
Holyrood will also be able to introduce new Scotland-specific taxes, subject to the agreement of the UK Parliament.
The Bill covers a number of other devolution issues, and is the responsibility of Scotland Office which is leading on it.
