TAX revenue generated from the Scottish Government doubling the supplement rate applicable to large businesses is expected to be £62.4 million.
The sum is four per cent higher than the forecast by Holyrood’s Finance Committee in its report on the Scottish Budget published on 29 January.
In response to a written parliamentary question finance secretary Derek Mackay confirmed the expected total extra tax revenue from the doubling of the rates supplement.
In April five of Scotland’s leading industry and sectoral representative groups combined to voice concern over the rates supplement of 2.6p added to the standard poundage of 48.4p.
David Lonsdale, Director of the Scottish Retail Consortium, said: “We’ve still to hear a convincing explanation as to why firms operating from medium and larger sized premises in Scotland are better placed to be stumping up more in business rates than firms in comparable premises elsewhere in the UK.
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