Companies that employ outstanding athletes could receive salary subsidies from the government, Sports Minister Tai Hsia-ling said Dec. 16 after the Cabinet passed a draft bill on the development of the sports industry in Taiwan.
According to Article 8 of the draft, the government will subsidize up to 30 percent of the salary of an athlete employed in the sports industry, for a maximum of five years.
In addition, enterprises that sponsor the training of individual athletes will be able to count the costs as business expenses or losses to offset their business income tax.
“In the past, this tax preference applied only to companies supporting sports teams; now we’ve loosened the restriction to include those contributing to the development of individual athletes,” Tai said.
“Outstanding athletes spend the golden years of their lives on the playing field and there have long been concerns about how they make a living afterward, so if enterprises are willing to pitch in, it would be a great benefit for the athletes,” Tai noted.
Other measures aimed at boosting the sports industry include cancellation of business income tax on ticket sales for sporting events, subsidies for sports branding and the introduction of key sports technology and skills, and assistance to schools and underprivileged groups for the purchase of tickets for sports activities. (THN)
Write to Grace Kuo at morningk@mail.gio.gov.tw