Tax policies released for 2022 Beijing Winter Olympics

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Tax policies for the 2022 Beijing Olympic Winter Games were announced on July 17. Beijing Organizing Committee for the 2022 Olympic Winter Games, the International Olympic Committee (IOC), the Chinese Olympic Committee, the International Paralympic Committee, the Chinese Paralympic Committee, and Beijing Organizing Committee for Olympic Test Events and related sponsors and donors, as well as athletes of the Games can enjoy preferential tax policies regarding value-added tax (VAT), tariff, income tax and stamp tax.

According to the policies, the following items shall enjoy VAT exemption: the shared sales revenue of the television broadcasting rights obtained by the Beijing 2022 Organizing Committee; the revenue (physical and capital) of the International Olympic Committee global partnership program; the domestic and international sponsorship revenue, the transfer of intangible assets (such as signs), the franchise income and the sale ticket revenue obtained by the Beijing Olympic Games Organizing Committee market development plan; and the revenue from the media (such as broadcasting, the internet and television) obtained by the Beijing Olympic Games Organizing Committee .

Meanwhile, the corporate income tax will be exempted from the Beijing Olympic Games Organizing Committee. The VAT payable obtained by the organizing committee, including food and beverage service, accommodation, leasing, introduction services and toll cards, will be exempted too.

The revenue earned by the IOC in connection with the 2022 Winter Olympic Games is exempted from VAT, consumption tax and corporate income tax. The VAT shall be exempted from the payment of the broadcasting rights of the Games by the international broadcasting and television organization of China obtained by the International Olympic Committee. The revenue of IOC made in connection with the 2022 Beijing Winter Paralympics will be exempted from VAT, consumption tax, corporate income tax and stamp tax.

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