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Historic plans for property taxation system

Plans for a new system of property taxation have been set out in what is a historic first for Scotland.

Finance Secretary John Swinney has put forward legislation for a tax to replace stamp duty on property sales.

It is the first time a Bill has been introduced that will allow the Scottish Parliament to both set and collect a proportion of its revenue. The move would see existing stamp duty charges replaced with a more "proportional and progressive structure".

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