Tax credit opportunity for business owners (Budapest)
Dear business owners and entrepreneurs:
My name is Tim and I am working with an ice hockey club in Budapest.
The government created a program last year named TAO to connect businesses and youth sports programs through an incentive initiative.
The way the program works is businesses can take up to 70% of the business taxes (tarsasagi ado) they are already paying to the government and redirect them to non-football youth sports teams. The businesses can claim the portion redirected from the government to a club as an expense and write-off a portion of it to reduce their overall tax burden. Youth teams use this money to buy equipment, help with travel costs, pay for arena maintenance and improvements, as well as other items.
The process is fairly easy...signing a couple of forms. If you are interested in this opportunity, please send me an email: bourciertm [at] yahoo dot com. I will forward you the information from the Hungarian Ice Hockey Federation and the law itself for your review.
I apologize for the short notice, but the deadline for this year is 14 December. It is a good way to save a little money at the end of the year and help a good cause.
I look forward to taking any questions!