Mykola Tomenko, Deputy Chairman of The Verkhovna Rada of Ukraine, addressed the Cabinet of Ministers of Ukraine with a request to facilitate drafting and enactment of the legislative acts to implement the Law "On Physical Culture and Sports" as to the promotion of charity in the sphere of physical culture and sports.
M.Tomenko reminded that the Law "On Amendments to the Law of Ukraine "On the Physical Culture and Sports" and other Legislative Acts of Ukraine" had come into force on January 1, 2011. The Law puts into force a new version of the Law of Ukraine "On the Physical Culture and Sports" promoting charity in the sphere of physical culture and sports. Under Clause 47 of this Law, the state "can grant tax privileges to the legal entities and individuals (residents and non-residents) that are charity contributors in the sphere of physical culture and sports", and "promotes activity of the economic entities investing into the sphere of physical culture and sports in Ukraine."
The Deputy Chairman stressed that these provisions could be implemented, provided the respective normative acts were adopted to fix the order and conditions of granting the privileges, and set the requirements for charity. M.Tomenko recommends the Cabinet of Ministers to set the order of granting privileges to the business that supports physical culture and sports.