Scotland will fight tax evaders on its own.

20.05.2014

On the 20^th of May, 2014 the report for Bill on the fight with tax evasion was submitted to the Parliament of Scotland. The Bill was prepared in December, 2013.

The Bill consists of General Anti-Avoidance Rule (GAAR), which gives to the Revenue Service of Scotland more competence as to competence provided to it by HMRS.

Report also suggests that tax evasion is one of the reasons of lack of budget funds for social needs. Therefore, serious measure must be taken in order to fight this illegal practice.

Source: http://www.scottish.parliament.uk/S4_FinanceCommittee/Reports/fir-14-03w.pdf

Expert’s opinion

Scotland is long fighting for its independent from British crown. Scottish Parliament decided to take into its hands the sphere of taxation and control over businesses too. Scodland has already succeeded in this sphere. Company registered in Scotland is not included into British Register of companies, Companies House. Scotland has it own Register that is even more confidential (there is less information open to public domain) than British one, which could be considered as a substantial plus.

However, despite Scotland being autonomous, Scottish companies are still subjects to the agreement with UK on the avoidance of double taxation.

Alexandra Mihno ( Lawyer, Honest&Bright)