Bill that seeks to grant tax benefits for the Copa América Femenina is approved

A presidential sanction passed the bill that seeks to establish tax exemptions national character and customs taxes for the realization of the Women’s America’s Cup 2022 in Colombia, which will be held in the country between July 8 and 30, 2022. The initiative was approved in the Congress of the Republic and is authored by the portfolios of Sports and Finance and Public Credit.

According to the Ministry of Sports, the start-up coincides with two main purposes of the national government: promote gender equality in sport and consolidate Colombia as a great platform for holding multi-sport events international in nature.

The initiative, conceived as bill 398 of 2021 of the House of Representatives and 272 of 2021 of the Senate, has eight articles that establish the Tax benefits, exoneration of traveler’s luggage, origin of benefits, territorial taxation, temporary application of the law, report and validity.

Likewise, said tax benefits include the following highlights:

-Exemption from income tax and Value Added Tax (VAT) to financial transactions of CONMEBOL.

-Exceptions to customs taxes for imports.

It should be said that, it will be the Ministry of Sports or the agency that it delegates, the one in charge of issuing a certificate that accredits the condition of beneficiary subject of the tax benefits.

According to the senator and speaker of the project, María del Rosario Guerra, the initiative would also generate benefits for the tourism sector, taking into account that this type of event attracts travelers from all over the world:

“What it does is give tax benefits, not only to players, to Conmebol, but to travelers who come to the Copa América. It is a project of the National Government and the Ministry of Sports must certify the beneficiaries ”.

Another bill related to sports is that of the National Intercollegiate Games, filed by the Ministry of Sports and Senator Ritter López, whose process has already passed through discussion and approval by the Senate, and last Tuesday, December 14, it was debated and approved. in the Seventh Committee of the House of Representatives.

During the first discussion in the corporation, the Vice Minister of Sports, Daniela Maturana, insisted on the importance of bringing the initiative into law, which she described as the most important sports training platform in the country.

“Sport should be considered as a tool to compete and train in values ​​and principles, it is also essential in promoting mental health,” said the official.

Maturana also referred to the meaning of the National Intercollegiate Games as a starting point for the projection of the generational change of the country, since he specified that, “It is a program that fosters cognitive skills and allows children and young people to see sport as a life project.”

Bill 638 of 2021 Chamber and 249 Senate 2020 consists of two chapters: the first, of general provisions with 11 articles; the second, with provisions for the ministries, territorial entities and sports entities with seven articles, for a total of 18 articles.

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