Corporate Tax

Deputy spokesperson, athletes help payments to permit corporate sponsors to deduct tax

  • By Hsieh Chun-ling / Staff Reporter

Deputy Speaker Tsai Chi-chang (蔡其昌) and some of the country’s top athletes yesterday called for the swift passage of an amendment to Article 26 of the Sports Industry Development Act (運動 產業 發展 條例) that would raise the ceiling on tax deductions for companies that host sporting events sponsor.

Tsai, who is also the commissioner of the Taiwanese professional baseball league CPBL, met with the legislative groups and urged them to support the bill.

He was accompanied by representatives from the sports industry including Lin Hong-dow (林鴻 道), the President of the Olympic Committee of China Taipei (林鴻 道), Olympic gold medalist in weightlifting Kuo Hsing-chun (郭 婞 淳) and former CPBL racket Chen Chin- feng (陳金鋒).

Photo: Liao Chen-huei, Taipei Times

“We came to create a better environment and secure more resources for the athletes,” said Kuo.

Tsai said the change was delayed by the COVID-19 pandemic.

People in the sports industry have high hopes for the bill as it would greatly encourage corporate sponsorship, he said.

Legislative bodies have yet to agree on the cap on tax deductions for corporate sponsors, Tsai said.

The executive yuan agreed to cap the deductible at 150 percent for a donation of NT $ 10 million ($ 359,932), but some opposition parties suggested raising the limit to 200-250 percent, he said.

“All the athletes want is for lawmakers to pass the version of the Executive Yuan bill first and then consider raising it when the opportunity presents itself,” said Tsai.

Passing the law would help the sports industry a lot, he said.

Some CPBL teams are still losing money after 32 years – the bill would help them, he added.

The bill would also ensure that athletes are properly trained and mentored, Tsai said, adding that people are excited to see how the nation’s athletes excel.

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