The Grand and General Council (Consiglio Grande e Generale) has approved, in second reading, a measure introducing tax incentives for donations in support of sport. The aim is to raise private funds to finance events and improvements to public facilities.
For events, sports federations will be able to submit project proposals by the end of August. Up to five events per year will be eligible for the benefits, following a dedicated evaluation process.
Donations will be fully deductible up to a limit of 5,000 euros for individuals and 50,000 euros for legal entities.
As for state-owned sports facilities, it will be up to the Congress of State to identify each year which strategic projects to invest in. Contributors will benefit from full deductions spread over equal instalments, as well as tax credits.
Donors may receive institutional, informational or promotional recognition. Cash payments and material goods as rewards are excluded.
“This measure embodies a modern vision of public administration,” said Secretary of State for Sport Rossano Fabbri. According to the Secretary, the new law will help generate fresh resources for infrastructure and meet the needs of sports federations and clubs.
