Accra, April 7, GNA - Mr Osei Bonsu Amoah, Deputy Minister of Education and Sports, on Wednesday reminded corporate bodies of the enormous benefits including tax rebates they stand to gain if they invest in sports.
Launching the Ghana Telecom (GT) 2005 Premier League on Wednesday, he said the new sports bill, which would be passed this year to replace the SMD Decree 54 has a comprehensive scheme of incentives that would grant corporate bodies who invest in sports huge benefits.
The deputy minister said a National Sports Trust Fund would also be established for the planning and financing of sporting events and programmes to enhance public and private partnership in the sports sector.
Mr Amoah said the step taken by GT to sponsor the league and the gala is not only a challenge to the corporate world to promote sports but an opportunity to reap the benefits.
He announced that the ministry would take advantage of the existing Legislative Instrument to apply to the Internal Revenue Service (IRS) to regard the magnitude of sponsorship provided by Ghana Telecom as contribution to the government's efforts for sports promotion and allowable expenses for the Communication Company.