Lukashenko advocates for the sports sector in Belarus
In a significant move, Belarusian President Lukashenko has signed a new decree titled "On the Support of Sports Organizations". This decree, as reported by Euroradio, outlines several changes that will impact the financial landscape of sports organisations in the country.
One of the key changes is the government's control over the regulation of sports organisations' finances. This includes the regulation of salaries for federation leaders, athletes, coaches, and other specialists. The decree also abolishes tax exemptions on property, land, and profit tax for sponsors who decide to support athletes.
The abolition of these tax exemptions may lead to a decrease in the number of sponsors for sports organisations, as private companies may be less inclined to sponsor due to the loss of tax advantages. However, it is likely that sponsoring will be maintained by public institutions, non-profits, or companies for whom marketing benefits or corporate social responsibility motives outweigh direct tax incentives. The specific details depend on legislative and market developments, but no explicit list of such companies is provided in available sources.
Clubs in both team and individual sports can receive subsidies from local budgets, and sports federations can receive subsidies from the republican budget. The government will determine the order and size of prize money for the sports season. The decree does not limit clubs' ability to independently manage their earned money and private sponsorship.
The government will also regulate the total support from state organisations in the form of sponsorship, advertising, and other forms. Additionally, the Ministry of Sports will monitor how federations and clubs use the support funds from state organisations.
These changes may affect the decision of sponsors to support athletes and sports organisations due to the abolition of tax exemptions. The government's increased control over sports finances is expected to bring transparency and accountability to the sector, but the impact on sponsorship and the sports industry as a whole remains to be seen.
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