Peru’s Finance Ministry established the rules to promote the transformation of sporting clubs into shareholder-owned businesses next year, in a plan to alleviate their tax problems.
The Ministry has created a special regime to pay tax debts in installments, so that these clubs can regularize their debts up to July 31, 2009, reports Semana Economica.
This is the first tax rescue plan structured in Peru for professional soccer clubs.
According to this new plan, clubs will be able to restructure the debt principal, remaining interests and other concepts.
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