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2017 | OriginalPaper | Chapter

7. Tax Incentives for Museums and Cultural Heritage

Author : Sigrid Hemels

Published in: Tax Incentives for the Creative Industries

Publisher: Springer Singapore

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Abstract

Museums and cultural heritage are a specific sub-sector of creative industries. Usually, legal entities in this sector operate as an NPO or charity. Many countries apply tax incentives for charities, benefitting this sector. The best-known example of such incentives is probably tax incentives for donations. It is often stated that the USA’s incentive is most generous in this regard; however, as this chapter will show, this assumption does not seem to be correct. Other incentives are tax exemptions for charities and tax incentives for volunteers. Important incentives for museums and archives are the ability to pay taxes with art and heritage objects as well as the wealth tax exemption of objects given on loan. A specific sub-sector of the cultural industries, businesses specialized in restoring and maintaining heritage, benefits from tax incentives that several countries provide to private owners of heritage buildings and objects.

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previous chapter Tax Incentives Crossing Borders

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Title: Tax Incentives for Museums and Cultural Heritage
Author: Sigrid Hemels
Publisher: Springer Singapore
Book: Tax Incentives for the Creative Industries
Print ISBN: 978-981-287-831-1

Electronic ISBN: 978-981-287-832-8

Copyright Year: 2017
DOI: https://doi.org/10.1007/978-981-287-832-8_7

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