Countries with Lowest Taxes on Sports Goods & Equipments
India levies 12% GST on sports equipments. A look at some of the countries which promotes sports by keeping taxes lower on Sports goods& equipments. In our
view, these are relatively smaller countries. A comparison with other European or American countries reveals a similar tax bracket as our's. So, we are not very different from rest of the world.
1.United Arab Emirates (UAE): In the UAE, there is no value-added tax (VAT) on sports equipment, making it one of the countries with the lowest tax on sports equipment. This policy has made sports equipment more affordable and accessible to people in the country.
2. Hong Kong: Hong Kong has a low tax rate on sports equipment, with a general tax rate of 0% to 5% on most sports equipment. This has made sports equipment more affordable for people in the region.
3.. Singapore: Singapore has a low tax rate on sports equipment, with a GST rate of 7%. However, the government has introduced various measures to promote sports and physical activity, such as the ActiveSG initiative, which provides subsidies and discounts on sports equipment and facilities.
4. Malaysia: Malaysia has a low tax rate on sports equipment, with a GST rate of 0%. This has made sports equipment more affordable for people in the country and has helped to promote sports and physical activity.