PM announces sponsorship tax relief for entrepreneurs

PM Mateusz Morawiecki announced on Monday the introduction of a special sponsorship tax relief for entrepreneurs who will decide to financially support, for example, a local football club or a cultural institution.

“Sport is one of the best methods of promoting the state. It is also, let's face it, a great business. Of course, so are culture and science. (...) The government also wants to combine these aspects - business and sports, scientific and cultural - for the benefit of entrepreneurs, athletes, scientists and artists,” wrote PM Morawiecki on his Facebook page.

The Polish PM explained that relevant provisions had been adopted by the lower house of the parliament, which are the changes in CIT tax.

“A sponsor, by incurring costs for a sports club or supporting culture and science, can use these costs twice for tax purposes: by calculating the tax base (income minus costs) and subtracting 50 percent of such costs from the already calculated tax base, which, in total, reduces the tax base by 150 percent of costs spent for sport/culture/higher education and science,” he wrote.

The PM stressed that the purpose of the relief is to build “a stronger connection of local companies with their surroundings,” e.g. universities and local cultural and sports centres.

“This discount is a token of sports solidarity and an expression of care for local culture at the highest level, and I am sure that such a policy will bear beautiful fruit in the future in the form of successes of our teams and athletes on the international arena, and will bring many outstanding works and discoveries to Polish culture and science,” PM Morawiecki concluded.