Sports Law contribution (National Sports Fund)
We calculate and file your Sports Law contribution: 1% of net profit for Venezuela's National Sports Fund. From $90.
Requesting a quote doesn't commit you to anything
- You tell us about your case. It's free.
- We send you the price in writing, within 1 to 3 hours.
- You decide. If it works for you, we start. If not, you delete it with one click and pay nothing.
No one will pressure you. Your information is used only for your case.
Is it for you?
If any of these sounds like you, this procedure is for you.
- Businesses, commercial companies and for-profit civil partnerships that must calculate, file and pay their annual contribution to the National Sports Fund, whether or not they reach the payment threshold
What's included and what isn't
Everything clear from the start. No fine print.
Includes
- Review of your financial statements and your ISLR return.
- Calculation of the 1% contribution on net profit and threshold check.
- Filing of the return with the National Sports Fund.
- Payment schedule, in a single payment or up to three installments.
Does not include
- The contribution itself (the company pays it to the Fund separately).
- Accounting, financial statements and the ISLR return (separate services).
- Designing sports projects to pay part of the contribution (separate service).
- Handling audits by the Fund (separate service).
What you need
Check off what you already have. You don't need everything to request your quote.
You have 0 of 5.
- Financial statements for the closed fiscal year
- ISLR return for the fiscal year
- The company's RIF (Venezuelan tax ID)
- Legal representative's details
- Your contact details to coordinate
How the process works
You do very little. We take care of the rest. The whole process: on average, 3 to 5 business days.
- Step 1
We review your numbers
Financial statements and ISLR return.
We do this - Step 2
We calculate your contribution
1% of net profit, and the threshold.
We do this - Step 3
We file
We submit the return to the National Sports Fund.
We do this - Result
Done
We leave you with your contribution filed and your payment schedule.
You receive it
From when you send us your financial statements and your ISLR (income tax) return, always within the legal deadline of 120 calendar days after your fiscal year-end.
What it costs and how to pay
There are two separate payments, and we want you to see them clearly.
Our fee: we do all the work for you.
The agency's fees, if any. It goes straight to the agency, and we give you the exact amount, with its receipt, before you pay anything.
How you pay: You pay once, when we start. In dollars, in bolívares at the official BCV exchange rate, or with Cashea.
How is your investment calculated?
Your investment covers our calculation and filing of the contribution. What you pay us, professional fees from $90 to review your accounting information, calculate the contribution and file the return. It goes up depending on how complex your accounting is
The company pays the 1% contribution to the Fund separately The lawyer gives you the exact figure before you pay anything, no strings attached.
FAQ
Who has to pay it?
For-profit legal entities whose annual net profit exceeds 20,000 tax units.
How much is it?
1% of annual net profit or book profit.
If I don't reach the threshold, am I off the hook?
From paying, yes, but you still have to file the annual return.
When is it due?
120 calendar days after the fiscal year-end; April 30 if your year ends in December.
Can I deduct it for ISLR?
No. The contribution isn't deductible for income tax (ISLR) purposes.
About this procedure
The Ley Orgánica de Deporte, Actividad Física y Educación Física (Organic Law on Sports, Physical Activity and Physical Education) created the Fondo Nacional para el Desarrollo del Deporte (national sports development fund), known as the National Sports Fund, and funds it with a contribution from companies: 1% of annual net profit or book profit. It's owed by public and private commercial companies, for-profit civil partnerships and, in general, any legal entity that carries out for-profit economic activities in Venezuela, when its profit exceeds the threshold of 20,000 tax units (UT). And watch out for something almost nobody knows: even if you don't reach the threshold, you still have to file the annual return.
It's a contribution that's easy to overlook because SENIAT (Venezuela's tax and customs authority) doesn't collect it and it lands right in the middle of ISLR season. The return is due 120 calendar days after the fiscal year-end (April 30 if your year ends in December), the payment can be split into up to three installments and, on top of that, the contribution isn't deductible for ISLR purposes. Calculating on the wrong base or letting the deadline slip is what turns a 1% into a headache.
We get it done: we take your financial statements and your ISLR return, calculate the contribution on the correct base, file the return through whatever channel the Fund has enabled and leave you with the payment schedule. The price starts at $90 and is adjusted to how complex your accounting is. A lawyer reviews your case and confirms with you before we start, no strings attached.
Legal framework and important notes
Ley Orgánica de Deporte, Actividad Física y Educación Física (Organic Law on Sports, Physical Activity and Physical Education) · Reglamento Parcial N.º 1 de la Ley Orgánica de Deporte, Actividad Física y Educación Física (partial regulation of the Organic Sports Law), Decree No. 8.820
- It's a mandatory (parafiscal) contribution; SENIAT doesn't collect it. We confirm the Fund's current filing and payment channel when we start.
- The contribution is 1% of annual net profit.
- Filing is mandatory even if you don't reach the threshold.
- It can be paid in up to three installments.
- It isn't deductible for ISLR.
- The contribution itself is separate.
We guarantee our service, not what the agency decides. If something depends on them, we tell you clearly and in time.
Is your case different?Ask us, message us on WhatsApp or book a free consultation. A real person answers you.