New corporate tax incentive for Olympic sponsorship
On March 10, 2016 the amendments of Act LXXXI of 1996 on Corporate Tax and of Act I of 2004 on Sports entered into force. A brand new form of sponsorship was created which shall be independent of other forms of tax incentives. The only general rule that applies is that the tax incentive claimed on account of the tax pledge (adófelajánlás) must not exceed 70 per cent of the calculated corporate tax payable by the company in any tax year. On the other hand, the amount of the incentive is not limited by any parallel sponsorship of a spectator sport or by any tax pledge made earlier. The conditions of claiming the incentive are partly similar to, but partly significantly different from previously known tax incentives that are still in force today.
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