Tags: trump turnberry | scotland | tax breaks

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

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.

© 2018 Newsmax. All rights reserved.

   
1Like our page
2Share
Newsfront
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
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved