Prishtinë, March 20, 2018 – The American Chamber of Commerce in Kosovo organized a roundtable on discussing the Law for Sponsorship, with the purpose of better informing businesses on the new legislation’s dispositions and the sponsors benefits.
Kujtim Gashi, Minister of Culture, Youth and Sport, said that the ministry he leads continuously has been committed in the advancement of the legal framework, mentioning the financial and material support for cultural and sport activities through sponsorship and advertisements, which reflect in the businesses development. He mentioned the steps undertaken in establishing the regulation in facilitating the implementation of this law and also the establishment of the commission on the sponsorship, adding that coordination with the ministry of finance will be reached in harmonizing this law. He said that such activities will be held continuously to inform the businesses in the law’s dispositions and its technical side as well.
Arian Zeka, AmCham Executive Director, said that with or without a law which regulates the possible benefits, businesses have continuously supported cultural and sport activities, in this way welcoming the Law for Sponsorship.
Nahit Sharku, Deputy General Director of TAK, said that the cooperation between the Ministry of Culture, Youth and Sport, the Ministry of Finance, and TAK will assist in clarifying the tax changes in the business community so that businesses are safe in the sponsorship process. He said that TAK will continue its contribution in avoiding damages that businesses might get in this process, adding that the fiscal package will be concluded in June 2018.
Whereas Driton Latifi, from TEB Bank, said that this law will have a huge impact on businesses, and will also increase the interest of investing in Kosovo.
Gresë Rexhepi, from PwC and also AmCham Tax Committee Chairperson, clarified that the 30% decrease in the Law for Sponsorship will be from the taxable profit and not from the tax on profit.