Introduction Background Note
5.The Government is introducing a power to allow provision to be made for income tax and corporation tax exemptions for major sporting events using secondary legislation.
6.The Government’s policy is to grant certain tax exemptions for sporting events if the event is:
	World-class,
	internationally mobile, and
	where exemption by the host country is a requirement of a bid to host the event.
7.In addition the Government has provided exemptions for events which were or are exceptionally well-placed to extend and preserve the legacy of the London 2012 Olympic and Paralympic Games.
8.Previous exemptions and special provisions have needed to be legislated in a Finance Bill. The power will enable the Government to make provision outside of that process. This will allow for more flexibility whilst retaining Parliamentary scrutiny of any proposed exemption or provision.