The Tax Collection and Management Bill will put in place arrangements for the collection of two devolved taxes: land transaction tax (replacing stamp duty land tax) and landfill disposals tax (replacing landfill tax).
It establishes the Welsh Revenue Authority, empowering to collect and manage the new taxes and enforce compliance. Its powers will be similar to other UK tax authorities.
Finance minister Jane Hutt hailed the passing of the bill as a “historic” day for Welsh devolution, adding that the changes would have a real effect on people’s lives.
“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,” she said.
“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.”
