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Trump-Owned Scottish Golf Resort Will No Longer Receive Tax Break

Trump-Owned Scottish Golf Resort Will No Longer Receive Tax Break

Trump Turnberry (Press Association via AP Images)

By    |   Sunday, 24 December 2017 10:29 PM EST

A Scottish golf resort owned by President Donald Trump will no longer receive a controversial tax break after the Scottish National Party tweaked a cutoff rule for the transitional business rates relief scheme, the Sunday Herald reported.

Trump Turnberry’s “rateable value” is just over £1.6 million, or $2.1 million, and the new cutoff point is restricted for properties with a “rateable value” of less than £1.5 million. The rule change was made specifically with Trump’s property in mind, according to the report.

Finance secretary Derek Mackay first announced the budget change in September.

“The SNP administration has a poor relationship with the right-wing president. Re-writing the eligibility criteria around business rates relief will be seen as an intentional rebuke to Trump,” writes the Guardian.

The resort received more than £100,000, or about $133,690, in tax breaks in 2017.

Trump lost money last year at both of his golf resorts in Scotland.

The president lost $23 million at Trump Turnberry in 2016 while revenue fell 21 percent to $11.7 million. Trump International Golf Links north of Aberdeen posted losses of $1.8 million, an increase of 28 percent, while revenue fell 12 percent according to Bloomberg.

Overall, revenue at both golf courses fell 21 percent to $11.7 million in 2016 from $15 million the year before.

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A Scottish golf resort owned by President Donald Trump will no longer receive a controversial tax break after the Scottish National Party tweaked a cutoff rule for the transitional business rates relief scheme, the Sunday Herald reported.
trump turnberry, scotland, tax breaks
214
2017-29-24
Sunday, 24 December 2017 10:29 PM
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