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Sports incentive law and other initiatives in Brazilian sports
During the 2024 Olympics, it is important to understand how public policies, such as the Sports Incentive Law, have shaped sports development in Brazil. This law is fundamental to the growth of sports in the country , allowing companies and individuals to invest in sports projects through tax incentives.
In this article, we will explore in detail how this law works and guatemala mobile database highlight other projects and initiatives that also contribute to Brazilian sport.
History and objectives of the Sports Incentive Law
Law 11,438/06, known as the Sports Incentive Law (LIE), was enacted in 2006 and aims to promote sports in various modalities, from sports initiation to high performance.
Its main objective is to promote sports, encourage the training of high-performance athletes and improve sports infrastructure . By allowing companies and individuals to deduct part of their taxes to finance sports projects, LIE has created significant opportunities for the growth and improvement of sports in Brazil.
In 2022, the LIE was extended until 2027, ensuring the continuity of its benefits. The legislation allows resources from tax waivers to be applied to sports and parasports projects. With the extension, the limits for the deductible discount were increased: for individuals, the contribution increased from 6% to 7% of the Income Tax due; for legal entities, the increase was from 1% to 2%.
Furthermore, Law 9,532, on tax legislation, was amended to allow donations and sponsorships to social inclusion projects through sport , especially in vulnerable communities, to share the deduction limits of donations to cultural and artistic projects, set at 4%.