The State Duma adopted in the second reading the bill on tax incentives for patrons of art
The State Duma adopted in the second reading the bill on tax incentives for patrons of art

Video: The State Duma adopted in the second reading the bill on tax incentives for patrons of art

Video: The State Duma adopted in the second reading the bill on tax incentives for patrons of art
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The State Duma adopted in the second reading the bill on tax incentives for patrons of art
The State Duma adopted in the second reading the bill on tax incentives for patrons of art

Individuals who decide to provide financial support to municipal and state cultural institutions can expect to receive tax incentives. The corresponding bill was adopted by the State Duma.

In accordance with the adopted document, the regions are given the right to slightly increase the size of the tax social deduction for personal income tax. Citizens from among the patrons can provide such a benefit in the amount of up to thirty percent of the amount of income that was received during the reporting tax period. Only those patrons who provide financial support to municipal and state institutions whose activities are related to culture will be able to count on receiving a deduction in the specified amount. Patrons will also be able to receive a tax deduction with the support of funds, if these funds are used to form their endowment capital.

The State Duma deputy decided to leave the right for the regions to independently determine the categories of institutions, foundations and non-profit organizations, with the assistance of which patrons will be able to count on a deduction of thirty percent. It is worth recalling that at the moment, citizens who allocate funds to help cultural institutions also receive benefits. The amount of tax incentives corresponds to the amount actually incurred by the sponsors. At the same time, there are limitations - the benefit cannot exceed 25% of the amount of income that was received during the tax period, and therefore is subject to taxation.

Expenses in the form of donations to municipal and state institutions that carry out their activities in the field of culture, organizations can include in the investment tax deduction. This may also include donations to a variety of cultural organizations that are classified as non-profit institutions.

The authors of the bill do not hide their joy from its adoption. They believe that its introduction will allow preserving the network of municipal and state cultural organizations without funding from budget funds. Such changes should facilitate the assimilation of new technologies by such institutions and contribute to their development. The new bill is intended to strengthen the role of institutions such as concert halls, philharmonic societies, archives, museums, etc. in the cultural education and education of citizens.

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