Manuel spells out tax relief for Fifa

TAX RELIEF: Finance Minister Trevor Manuel. © Unknown.

BD Weekender. 14 April 2007, pg 6. Hero-rated
TAX RELIEF: Finance Minister Trevor Manuel. © Unknown. BD Weekender. 14 April 2007, pg 6. Hero-rated

South Africa has introduced temporary legislation that provides for tax relief on imports by Fifa-related organisations in the run-up to the 2010 World Cup.

South Africa has introduced temporary legislation that provides for tax relief on imports by Fifa-related organisations in the run-up to the 2010 World Cup.

"These temporary amendments to tax legislation should help Fifa and its partners to host a successful Soccer World Cup," said Finance Minister Trevor Manuel, who introduced the Revenue Laws Amendment Bill to the national assembly yesterday.

He said these organisations could import inventory for sale at designated sites, such as stadiums, capital goods, consumables and promotional materials "directly related to the World Cup . all of which will be free from import taxes".

Fifa, its subsidiaries and participating national associations - other than the South African Football Association - will be exempt from income tax.

"These entities will also generally be entitled to VAT refund credits," said Manuel. - I-Net Bridge

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