Corporate Sport Donations To Be Public

  • 23 Mar 2017 9:00 AM
Corporate Sport Donations To Be Public
The Capital Court yesterday ordered ministries to reveal the names of companies that used corporate tax allowances to support sports, in a case launched by anti-corruption agency Transparency International.

The period of compulsory information giving is from July 1, 2011, when this type of tax allowance was introduced, to June 30, 2016.

Money donated to sport by companies that would otherwise be paid in the form of corporate tax is an indirect subsidy that must be made public, the Court ruled.

Those who use public money must be transparent, the Court added.

The largest recipient of these indirect state subsidies is the football academy in Felcsút, the home village of Prime Minister Viktor Orbán, Index points out.

Many would like to know which companies are transferring large amounts to sports clubs nurtured by politicians, the website adds.

Source: Hungary Around the Clock

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