The UK Government announced that stars competing at the Sainsbury's Glasgow Grand Prix this summer will be exempt from paying income tax on any appearance fees or bonuses from sponsors.
The event, at Hampden Park on July 11-12, is being staged in Scotland for the first time, and its dates were moved to link in with the Commonwealth Games, which start on July 23.
Top athletes, including triple London 2012 Olympic champion Bolt, have previously limited their appearances in Britain due to rules which see them taxed on global sponsorship and endorsement earnings as well as any appearance fee.
"As soon as the law changes I'll be here all the time," Bolt said in 2012. "I love being here, I have so many Jamaican fans here and it's wonderful."
Chancellor George Osborne said: "I want to do everything to help make this summer a summer of sporting success in Scotland. Not only is the great city of Glasgow hosting the Commonwealth Games, but also the Glasgow Grand Prix as well and the UK Government will do its part to make sure both are great sporting events.
"The tax exemption the Treasury is announcing will extend the cultural and economic contribution that the Games will bring. It will also ensure Scotland continues to attract the highest standard of athletes."