Tax Relief for Madrid 2020 Corporate Supporters
February 21, 2013
The first meeting of the Madrid 2020 Bid Consortium confirmed that companies supporting the city’s bid can take advantage of tax relief.
The tax relief can be as high as 15% of advertising costs and comes as a result of the Spanish government declaring the Madrid bid ‘an event of exceptional public interest.’
Corporate donors can also obtain tax credits up to 95% on the Property Transfer Tax when purchasing goods or rights designed to promote the event.
Tuesday’s meeting approved the Financial Plan, doctor the Consortium’s Activities Programme and the Brand Application Manual, which outlines information on the activities, carried out that involve the Madrid 2020 brand.