Scotland will have its own tax policy

20.04.2012 In Scotland there is the bill drafting according to which the country acquires the right independently to define a tax rate on the income, and also to impose new taxes. Also Scotland can conduct its own credit policy.

It’s interesting that Scotland can regulate not only economic problems, but also such as, for example, drink driving and high-speed restrictions on the road.

Expert’s opinion

«Being a part of Great Britain, a world financial center, Scotland wasn't afraid to "give a hint" at its "independence" in questions of maintaining a tax policy.

It should be noted that in Great Britain there is still the possibility to essentially save on taxes: if the English partnership (Limited Partnership) doesn’t carry on business in the territory of the country, it doesn't pay taxes in England.

In the same way the Scottish partnerships of LP with foreign founders, which don’t carry on business in Great Britain and which don’t receive the income in its territory, aren't submitted here to the taxation, that makes it an attractive jurisdiction for business.»

On the basis: http://www.scotland.gov.uk/

Lomakina Irina ( the director of Moscow office of Honest & Bright )