A new charge that will replace stamp duty in properly sales north of the border will be approved by Holyrood in a landmark vote.
MSPs are expected to back legislation to introduce the new Land and Building Transactions Tax. It will allow the Scottish Parliament to set and collect a proportion of its own revenue for the first time when the new charge comes into effect.
Finance Secretary John Swinney said the passing of the Land and Building Transactions tax (Scotland) Bill would be a “huge milestone for Scotland”.
He added: “It will enable us to set and collect taxes in a more cost effective and fairer way than the UK Government.”
Under stamp duty, a difference in property selling price of just £1 can lead to thousands of pounds in additional tax for the buyer.
The Scottish Government believes the new charge – which will apply to all property sales from April 2015 onwards – will be more progressive, as it will include a zero rate and at least two other bands.
A key part of the new system is that only the proportion of the price above the tax thresholds will be liable for the higher rate of tax.
Mr Swinney has already said he will not announce the rates and tax bands for the new system until September 2014 at the earliest.
But speaking ahead of today’s final Holyrood debate on the Bill, he said it would “give us the opportunity to better support first time buyers trying to get onto the housing ladder or families buying bigger homes that better suit their needs”.
The Finance Secretary added: “It is this Government’s belief that tax should be proportionate. That means taxpayers should have certainty about what they should pay – it should be convenient and it should be efficient.
“It is my vision that Scotland should have a modern and efficient tax system , grounded on solid foundations and delivering sustainable economic growth.”