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SPORTS

Brazil publishes decree granting FIFA tax exemption in World Cup

15.10.2011 [18:49]
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Baku, October 15 (AZERTAC). The Brazilian government conceded on Thursday full exemption from taxes to FIFA in all matters relating to the 2013 Confederations Cup and the 2014 Soccer World Cup.

According to a decree published on Thursday`s edition of Brazil`s official journal, the exemption has already taken effect and will last until Dec. 31, 2015. It applies to all sort of material - FIFA will be able to import fuels, food, sports equipment and even office supplies without paying import taxes or the Tax over Industrialized Products (IPI).

The exemption also includes several other taxes, including income tax. FIFA`s local subsidiary, member associations and its partners abroad will also benefit from the tax waive.

All durable goods imported by FIFA can stay in the country until Dec. 2015 without paying taxes; after that, in order to avoid the taxes, the equipment must be either taken away from Brazil or donated to the government or non-profit institutions.

According to IRS Tributes Coordinator Fernando Mombelli, the exemption is not exclusive to Brazil; it is something granted in all countries which host FIFA events.

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