Vice President, Athletes Support Change to Grant Corporate Sponsors Tax Deduction

  • By Hsieh Chun-ling / Journalist

Deputy Speaker of the Legislative Assembly Tsai Chi-chang (蔡其昌) and some of the country’s top athletes yesterday called for the swift passage of an amendment to Article 26 of the Industry Development Law sport (運動 產業 發展 條例), which would increase the ceiling for tax deductions. for companies sponsoring sporting events.

Tsai, who is also the commissioner of Taiwan’s professional baseball league, CPBL, met with the legislative caucus whips and asked them to support the bill.

He was joined by representatives of the sports industry, including Chinese Taipei Olympic Committee President Lin Hong-dow (林鴻 道), Olympic weightlifting gold medalist Kuo Hsing-chun (郭 婞 淳) and former CPBL Chen Chin-feng (陳金鋒).

Photo: Liao Chen-huei, Taipei Times

“We have come to help create a better environment and secure more resources for the athletes,” said Kuo.

Tsai said the amendment was delayed by the COVID-19 pandemic.

People in the sports industry have high hopes for the bill because it would significantly boost corporate sponsorship, he said.

Legislative caucuses have yet to reach consensus on the cap on tax deductions available to corporate sponsors, Tsai said.

The Executive Yuan agreed to cap the deductible amount at 150% for a donation of NT $ 10 million (US $ 359,932), but some opposition parties have proposed increasing the cap to between 200 and 250%, a- he declared.

“All the athletes want is for lawmakers to pass the Executive Yuan version of the bill first, and then consider raising it if there is an opportunity,” Tsai said.

Passing the bill would greatly help the sports industry, he said.

Some CPBL teams are still losing money after operating for 32 years – the bill would help them, he added.

The bill would also ensure that athletes are properly trained and cared for, Tsai said, adding that people were thrilled to see the country’s athletes excel.

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