The SNP is today welcoming expert backing for the devolution of oil taxes. At today’s Finance Committee meeting in the Scottish Parliament, Iain McLean, Professor of Politics at the University of Oxford, described devolving the whole of North Sea tax as “perfectly feasible as well as desirable” adding it would “make sense” for the licensing regime to be devolved along with tax. Professor McLean’s comments follow similar backing from the Chartered Institute of Taxation and the Institute of Chartered Accountants. Giving evidence to the Treasury Select Committee at Westminster yesterday, Chartered Institute of Taxation tax policy director Patrick Stevens described Petroleum Tax Revenue (PRT) as a “good candidate” for devolution. At the same session, Frank Haskew, head of tax at the Institute of Chartered Accountants in England and Wales agreed PRT “should be looked at in terms of devolution”. There have also been calls for Scotland to take ownership of its own renewable energy future, with chief executive of Community Energy Nicholas Gubbins stating that powers over regulation and licensing should be devolved.
Posted on: Wed, 29 Oct 2014 17:23:04 +0000
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