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Successful first year for Revenue Scotland

Published: 8 Sep 2016 10:50
Part of:
Economy

First annual report shows £572 million annual tax take.

Revenue Scotland's first annual report has shown the tax authority collected more than half a billion pounds of tax in its first year.

Welcoming the report, Finance Secretary Derek Mackay said:

"These figures show that Revenue Scotland has had a successful and efficient first year, collecting £572 million in tax and operating under-budget.

"That figure confirms the provisional estimate from June this year and is £74 million higher than initial estimates.

"The scale of the challenge of introducing the first Scottish taxes in more than 300 years should not be underestimated, and it's encouraging to see this has been done so effectively.

"Raising tax is important to funding public services. That is why it is even more important now than ever that public services in Scotland are delivered competently and efficiently and that we continue to support sustainable economic growth.

"That can only be achieved with effective and efficient tax collection and Revenue Scotland's first annual report shows they have made an important and valuable contribution."

Notes to editors

The Revenue Scotland annual report and accounts can be found here https://www.revenue.scot/about-us/publications/corporate-documents

Further information from Revenue Scotland can be found here https://www.revenue.scot/news/news/revenue-scotland-publishes-its-first-annual-report