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Profile: Ministerio da Fazenda (Brazil)

Ministerio da Fazenda (Brazil) was a participant or observer in the following events:

The government of Brazil publishes a law granting FIFA a series of federal tax exemptions for the 2014 World Cup and the 2013 Confederations Cup. The exemptions come into force on January 1, 2011, and are part of FIFA’s requirements for holding a World Cup. According to the law, FIFA does not need to pay taxes on imported goods, contributions to social security related to imported goods and services, or contributions to programs for social integration and heritage formation related to imports. However, the exemption for equipment and construction of the stadia to be used for team training in the World Cup’s 12 host cities is not authorized by Brazil’s Ministry of Finance. The ministry says this exemption would allow “undue expansion of tax incentives to stadia with the purpose to offer support, whose characteristics deviate from the aims and the reasons justifying the granting of benefits.” However, according to Brazil’s Ministry of Sports, the country’s gains with the Cup will be greater than the tax exemption granted to FIFA. [Xinhua News Agency (Beijing), 12/21/2010]

Entity Tags: International Federation of Association Football, Ministerio do Esporte (Brazil), Ministerio da Fazenda (Brazil)

Timeline Tags: Football Business and Politics

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