The National Government issued a decree on the occasion of the 2024 FIFA U-20 Women's World Cup, in which exemptions from national taxes and customs duties are established.
The benefits They will have a temporary application, as the text reads, “to the events, operations or transactions that take place between the day of their promulgation and one month after the date on which the final” of the aforementioned championship takes place, which will be done in the country.
The decree approved by the Presidency and presented by the Ministry of Finance aims to strengthen the economy and trade during the competition, which will last three weeks.
The businessman has been accused of allegedly laundering money for the Gulf Clan.
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The FIFA U-20 Women's World Cup 2024 It will be held from August 31 to September 22, 2024 in the country.
What are the tax benefits?
The tax benefits They are “terms, deadlines and conditions for refunds of sales tax (VAT), refunds of withholdings and self-withholdings at source as income tax and complementary tax on occasional profits and as tax on financial movements (GMF) that have been made to the beneficiaries of this Law.”
- Taxes on income and complementary taxes on occasional profits, on sales (VAT) and the tax on financial movements (GMF) will not be imposed on the International Football Association Federation (hereinafter FIFA) and/or FIFA subsidiaries. , to the FIFA Delegation, Teams, Game Officials, Member Associations, Participating Member Associations and members, invited Confederations, staff and employees of these parties, with the exception of the players.
- FIFA and FIFA affiliates, Teams, Game Officials, FIFA Guest Confederations, Member Associations, Participating Member Associations, do not constitute a permanent establishment in the country, nor are they in any other way subject to the income taxes and complementary taxes on occasional profitson sales (VAT) and the tax on financial movements (GMF).
- There will be no withholding at source as income tax and complementary to occasional profits on payments or account credits made to FIFA and/or subsidiaries of FIFA and on payments or account credits made by FIFA and/or subsidiaries of FIFA FIFA to the subjects discussed in this article. There will also be no withholding as a tax on financial movements (GMF) on payments or account credits made by FIFA and/or FIFA subsidiaries.
- FIFA and/or FIFA affiliates, the FIFA Delegation, Teams; Gaming officials, Member Associations, Participating Member Associations and members. Invited confederations, staff and employees of these parties have the right to full refund of the value of sales tax (VAT) on products or services purchased through electronic sales invoice.
In this edition, 32 teams will compete.
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Who are the beneficiaries?
The benefits are applicable to:
- The International Federation of Football Association (Fifa)
- Fifa subsidiaries
- Fifa Delegation
- The Teams, Gaming Officials, Member Associations, Participating Member Associations and members. Invited confederations, staff and employees of these parties, with the exception of the players.
“The Ministry of Sports, through the Directorate of Sports Positioning and Leadership, will issue a certificate that accredits the quality of the beneficiary subject,” the decree informs.
GERALDINE BAJONERO VÁSQUEZ
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