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2019/2020 National Budget: Incentive for corporate sporting sponsors

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Corporate bodies intending to sponsor sporting teams have been given a better chance with the lowering of the 150 per cent tax threshold. Picture: FT FILE/JONA KONATACI

CORPORATE bodies in Fiji intending to sponsor sporting teams have been given a better chance with the lowering of the 150 per cent tax threshold.

While delivering the 2019/2020 National Budget Address this evening, Economy Minister and Attorney General Aiyaz Sayed-Khaiyum said this was to ensure that more private companies come forward to sponsor sporting teams.

“Irrespective of that to gain more private sector participation, the threshold to qualify for the 150 per cent tax reduction for corporates that sponsor sports teams would be lowered from $50,000 to $10,00,” he said.

* Stay with us as we bring you brief updates from the 2019/2020 National Budget. More detailed reports will be published in tomorrow’s edition of The Fiji Times and also in our e-Edition 

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