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Fiji FA commends govt for removing minimum threshold for tax deduction for sports sponsorship

Fiji FA commends govt for removing minimum threshold for tax deduction for sports sponsorship

By Dhanjay Deo
Tuesday 21/07/2020
Fiji FAโ€™s CEO Mohammed Yusuf

The Fiji Football Association has commended government for removing the $10,000 minimum threshold for 150 percent tax deduction for sports sponsorship.

According to the 2020/2021 National Budget, any sponsor which donates to a Fiji National Sports Commission recognised entity will receive a 150% tax deduction, with no threshold.

Fiji FAโ€™s CEO, Mohammed Yusuf says people can now sponsor teams for as low as $500 or a lesser amount and if the sponsor goes through the Fiji FA, they will be able to qualify for the 150 percent tax exemption.

He says this initiative will greatly help smaller clubs who now can get sponsorship.

Yusuf adds that the reduction of customs duties on over 1,600 items will also help sporting bodies who get sports equipment from overseas.

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