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European Banks Finds $24 Billion Huge Profit From Tax Havens
September 7, 2021
January 10, 2025
By Evans Momodu
1 minute read
Edinburgh is preparing to implement a 5% tourist tax after the city council finalised details of the proposed levy.
Councillors are expected to make a final decision on the tax during meetings later this month. The fee would apply to overnight stays at hotels, holiday homes, and campsites.
A report presented to the council’s policy and sustainability committee highlighted concerns that a charge higher than 5%, combined with rising operational costs for businesses, might deter visitors.
The Scottish Greens had previously advocated for an 8% levy.
If approved, the tax is projected to generate approximately £50 billion annually, starting from July 2026, and will fund initiatives to improve the city.
Council leader Jane Meagher emphasized that the funds would help "manage tourism sustainably" and support projects that enhance the experience for both visitors and residents.
Last year, Manchester became the first UK city to introduce a tourist tax, adding £1 per overnight stay. Similar levies are already common in European nations such as Germany, Spain, and Italy.
Source: Sky news
Image: Independent Newspaper
