Interesting World Tax Exemptions
World Cup Tax Exemption
Before any country can host the Word Cup for soccer, FIFA demands “a comprehensive tax exemption to be given to FIFA”, including freedom from corporate tax, income tax, VAT and any other taxes the laws might require.
Artist Exemption— Ireland
If you’re an artist in Ireland, earning your income through books, writing, plays, musical compositions, painting or sculptures, and the Arts Council determines the work is original and creative having cultural or artistic merit, they can grant an exemption of income up to €50,000 from income tax.
Cereal Toy Tax — Canada
Makers of children’s breakfast cereal in Canada are granted tax-free exempt status if their cereals contain free toys. The exemption is limited to toys that are not “beer, liquor or wine.”
British Culture Film Tax Break
Britain offers tax deductions to films it considers “culturally British”. Based on a “culture scoring test”, the film must pass with a score of 16 out of 31 points to receive a tax break of 25%.
About the Author
Gregory McCauley Jr., Esq.
Tax Attorney · Villanova University School of Law · Admitted in Delaware, New Jersey, United States Tax Court
Gregory McCauley Jr. is an experienced tax attorney who has personally represented more than 1,000 clients in matters ranging from civil tax controversy and IRS examinations to criminal tax defense, U.S. Tax Court litigation, and complex business disputes. His practice is built on a foundation his c...
