Govt Exempts BFF From Paying VAT On Earnings
Sunday, 31 May 2009

The government has exempted the Bangladesh Football Federation from paying all value added tax (VAT) on their sponsorship earnings, said a BFF official on Sunday.

However, the football governing body would have to let the National Board of Revenue (NBR) know time to time about all their deals, sponsorship money they were getting as well as the amount of VAT-free money, said BFF general secretary Al Musabbir Sadi.

Quoting a NBR letter received on Sunday, Sadi said the letter stated the BFF is a national as well as a non-profit organisation, which is involved in developing football for the long term through sponsorship money from different companies, and considering this aspect the BFF has been given exemption from paying VAT on all earnings of donations, contributions and sponsorship money.

Sadi informed that under the exemption this fiscal, they would now get Tk 90 lakh from their sponsorship money of Tk 6 crore ? Tk 5-crore deal with Citycell and the rest with Nokia.

The football governing body had earlier appealed to the sports minister to exempt them from VAT on earnings and last month BFF president Kazi Salahuddin met the finance minister to make the same request.

Source: bdnews24.com

Comments Add New
Write comment
Name:
Email:
  We don't publish your mail. See privacy policy.
Title:
Please input the anti-spam code that you can read in the image.