SAN MARINO – The Great and General Council has approved at second reading the bill which introduces tax incentives to support sporting events and redevelopment interventions on public real estate.
The provision provides benefits for donations intended for a maximum of five sporting events per year: tax deductions will be full up to 5,000 euros for natural persons and 50,000 euros for legal entities.
The law also introduces fiscal tools to encourage the recovery of state properties intended for sports. The State Congress will annually identify the strategic works to be financed through the involvement of citizens and businesses.
“We pave the way for a virtuous synergy between the State and the economic fabric, capable of attracting fresh resources for our infrastructures without burdening the State budget”, declared the Secretary of State for Sport Rossano Fabbrialso underlining the objective of supporting the San Marino sports federations and clubs.
The text excludes material compensation for donors, who can only receive returns of an institutional, communicative or informative nature.
