The maximum amount for 2023 will be R$100 million for cultural projects and R$60 million for sports.
Businessmen from the state of São Paulo can finance cultural and sports projects through tax benefits from the ICMS, the tax on the circulation of goods and services.
The Secretariat of Finance and Planning (Sefaz-SP) stipulates that taxpayers approved and qualified in the Cultural Action Program (PAC) and Sports Incentive Program (PIE) will be able to allocate financial resources to support cultural and sports projects. The programs are linked to state administrations in both regions.
This measure was established by Resolution SFP-19/2023, published in the Official State Gazette on April 13 and in force since April 17.
The maximum resources available for 2023 will be R$100 million for cultural projects approved by the PAC; and R$60 million for PIE sports projects.
The tax benefit allows the sponsoring taxpayer to receive a credit of 100% of the amount allocated to sponsor approved cultural or sports projects. Therefore, Sefaz-SP’s support system seeks to facilitate the participation of interested parties and provide transparency to the process.
Those wishing to allocate part of the ICMS to cultural and sports projects can refer to the program guide on the Sefaz-SP website.
Sponsoring companies must meet certain requirements, including compliance with the periodic assessment system (RPA) and regular status in relation to the main and ancillary obligations specified in the legislation, such as the delivery of the GIA (ICMS Information and Accounts Guide) and payment of the tax due.
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Amelia Kensington is a contributor to Mediarunsearch.co.uk, covering a wide range of topics including news, politics, business, technology, sport, entertainment, and lifestyle. She focuses on delivering clear, balanced reporting and useful information that helps readers stay informed about current events and emerging developments. Her work highlights stories that matter to everyday audiences, presenting complex topics in an accessible and engaging way while maintaining a strong commitment to accuracy and relevance.