The government today approved the draft law on sponsorships. The major announcement was made by the Minister of Tourism, Culture and Sport, Blendi Gonxhja, who stated that from today, a new chapter begins for sport, culture and the arts.
Speaking from the “Air Albania” Stadium, Minister Gonxhja explained how this law will work, considering it a historic step for development that also affects Albanian sport, young people and talented individuals. Gonxhja also addressed the relationship between the state and business, which will be strengthened even further on the basis of this draft law.
“A historic decision that is expected to revolutionize the financing of sports, artistic and cultural activities in Albania. The Council of Ministers today approved the new draft law on donations and sponsorships, opening the way for a new mechanism, unprecedented until now, for the financial support of these sectors, which with this new policy we treat as priorities because of the social, educational and economic added value they generate.
An important reform of the Ministry of Tourism, Culture and Sport that aims to create a new partnership between the state and business, turning sponsorship into a real investment instrument for Albanian talent. For the first time, businesses that sponsor art, culture and sport, under the new provisions, will be able to deduct the sponsorship invoice directly up to 30 percent of the profit tax. The scheme provides a ceiling of up to 2 billion new lek per year, or about 22 million euros, available for financing sport, art and culture, in addition to the programs approved annually in the state budget.
This is a powerful incentive that will bring a positive growth multiplier effect for events and co-financing, for the image and international prestige, for the creative industry and sports communities, increasing cohesion and reducing state costs in healthcare, security and social issues.
The reform also brings a new standard of transparency, through the national electronic register of sponsorships and audit and control mechanisms. This historic step aims to give Albanian culture and sport more life, more opportunities and a new perspective of quality and development. A new chapter for young people and talented individuals. A long-awaited and much-demanded initiative that today we are in a position to dare, because today Albania has financial and budgetary potential, thanks to policies of concrete economic growth,” said Gonxhja.