Sports Incentives

Law encourages investment in training new talent

Beach volleyball is one of the sports sponsored by Banco do Brasil / Photo: Nivaldo Alves/CBV Since taking effect in 2007, by 2013, the Sports Incentive Law was used to invest R$ 1.1 billion in almost 2,000 projects encompassing many different types of sports.

The law allows companies and individuals to deduct sponsorship of projects approved by the Ministry of Sports from their income tax obligations.

This is the case, for example, of a swimming project Olympic medalist Gustavo Borges has up and running since May 2014 in Itu, São Paulo state. In the first phase, 160 children aged 8 through 13 will be assisted.

By law, companies can invest up to 1% of income tax due. For individuals, the limit is up to 6%.

State enterprises have strengthened sponsorship programs, with a view to 2016

State-owned companies, which historically sponsor Brazilian sport, established special support projects in recent years, particularly with a view to preparing for the 2016 Olympic Games.

Banco do Brasil, Banco do Nordeste, BNDES, Caixa Econômica, Correios, Eletrobras, Infraero and Petrobras participate in the initiative to strengthen high performance sports in Brazil such as open water (marathon swimming), athletics, canoeing, basketball, boxing, BMX cycling, women's football, gymnastics, handball, equestrian events, judo, wrestling, Paralympic sports, swimming, modern pentathlon, taekwondo, tennis, sport shooting, triathlon, sailing, volleyball, and beach volleyball.

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The resumption of women's soccer (football)

The Dilma government also began an unprecedented effort to strengthen women's football. The Brazilian Women's Soccer Championship in 2013 once again was held after a 12-year hiatus, sponsored by the Caixa Econômica Federal and supported by the Ministry of Sports.

The incentive was repeated in 2014 and the competition, which was kicked off in September, ran until December. Other activities, for the development of the sport with a focus on young athletes, included the 1st Brazil Under-17 School Cup and the 1st Brazil University Women's Soccer Cup.

The Ministry of Sports also made it possible hold two Liberator Cup competitions. The first, in 2012, in Pernambuco, and the second in 2013 in Paraná. Some R$ 600,000 was invested in each edition of this competition, organized in partnership with the South American Soccer Confederation (Conmebol).

In addition, seeking the development of the sport and the strengthening of teams, the Ministry approved a project for construction of a Women's Soccer Center for Excellence in Foz do Iguaçu (PR) through the Sports Incentive Law. The sports facility will host women's Soccer teams undergoing training and match preparation.

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