Senate approves payroll-deductible loans for Brazil Aid beneficiary

Senate extends donation incentive for sports projects

The Senate approved today (13) a bill (PL) that extends until 2027 the benefit of income tax deduction for sports projects, as provided for in the Sports Incentive Law (LIE). The project also increases the limits for the discount and provides an extra incentive for donations to sports actions for social inclusion. The text goes to presidential sanction.Senate extends donation incentive for sports projects

The benefits provided for in the LIE would expire on December 31 of this year. In the case of donations by individuals, the project increases the deductible limit for donations or sponsorships for sports and para-sports projects. The same rule applies to contributions to funds for children and the elderly, cultural and artistic projects and investments in audiovisual works. The current value of 6% will change to 7% of the income tax due.

In the case of legal entities (companies), the increase will be from 1% to 2% of the individual deductible limit as a donation or sponsorship for sports and parasports projects. Former volleyball athlete, senator Leila Barros (PDT-DF), supported the project and highlighted the importance of LIE in fundraising. “The incentive law has been responsible, until today, for raising more than R$ 5 billion, in updated values. Until the year 2020, more than 20 thousand sports projects were presented, supported by this legislation. In 2021 alone, R$ $450 million by entities on more than 2,500 projects.”

*With information from Agência Senado.

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