Views sought on tax relief proposal for Green Freeports

VIEWS are being sought, whether non-domestic buildings planned for economic zones being set up around the Firth of Forth and the Moray Firth be ‘incentivised’ by at least partial relief from land and buildings tax.

A consultation exercise has been launched – here – with a deadline of May 12 for responses.

The zones are the so-called Green Freeports, the Scots winning bids (of Inverness and Cromarty Firth Green Freeport and Forth Green Freeport) being announced, here.

Explaining the rationale for the consultation, a Scottish Government announcement, here, says: “Incentives for businesses to invest in Scotland’s two new Green Freeports are proposed in a new consultation.

“Changes to Land and Buildings Transaction Tax (LBTT) rules would offer full or partial relief from the tax on non-residential buildings and land in certain areas within the Green Freeports.

“Relief would be available for a period of up to five years on land or property bought or leased for certain commercial activities.

“The Green Freeports are expected to be operational later this year after being jointly announced by the Scottish and UK governments in January, following a rigorous selection process.”

Pictured: Leith Docks, Edinburgh, Picture credit: Place Design Scotland

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