The Cabinet yesterday approved a draft statute for the development of the sports industry that would provide various tax incentives to enterprises and sports bodies to promote sports and cultivate athletes, a government official said yesterday.
Sports Affairs Council Minister Tai Hsia-ling (戴遐齡) told a press conference following a Cabinet meeting that the draft statute constituted a positive response to longstanding demands by the sports community.
If the legislature approves the amendment, a business operating in the sector would be entitled to tax exemptions on 30 percent of its expenses in hiring an employee for a period of five years, while a corporation would be given tax exemptions on expenses for research and development.
Tax exemptions would also be available for companies sponsoring athletes, sports teams, the sports industry or competitions, as well as purchases of sports equipment or tickets to sports games that are donated to schools or disadvantaged groups.
The Cabinet also approved an amendment to the Trademark Act (商標法) to enhance trademark protection schemes and create a better investment environment.
Trade marks such as holographic images and login screen backgrounds used on -mobile phones would also be recognized as trademarked content.
The draft act stipulates that trademarked material may be composed of a word, design, symbol, color, sound, 3D shape or a combination thereof.
The Cabinet also approved a NT$49.2 billion (US$1.65 billion) proposal by the Ministry of Transportation and Communications to build alternative routes on dangerous sections of the Suhua Highway connecting Yilan County and Hualien along the east cost.
Supporters of the project have long demanded a safe road home for residents of Hualien, while its detractors have raised concerns over the project’s potential impact on the environment.
The highway was severely damaged by landslides caused by Typhoon Megi in October, killing 15 people and leaving 23 missing, an incident that is believed to have added a sense of urgency in reaching a decision on the project.