Simplicity Key To Scotland's New Tax Regime, Panel Says

Law360, New York (November 5, 2013, 3:43 PM EST) -- With the impending expansion of Scotland's taxation powers under the Scotland Act of 2012, the country must design a simple and stable tax system from the ground up, according to two reports released Monday by Scotland's Fiscal Commission Working Group.

In a report focusing on the nation's new taxing powers, the working group recommended reliance on oil and gas tax revenues to fund the government on the short-term and the imposition of a revenue rule that sets a ceiling on government revenue collection moving forward....
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