Keo Merlier Haim

Good news

(A bit technical!)

 

Owning a painting for pleasure with the added benefit of tax exemption!

 

Companies: A deduction of the cost of the painting from

the company's taxable

income. (CGI art 238bisAB Patronage Law).

 

Buying contemporary art

is limited to 0.5% yearly turnover. The company

must exhibit the painting in

a public place the duration

of the fiscal year.

The purchase of original paintings of living artists

is deductible from taxable income per statutory fraction over 5 years (vesting year + 4 years). The paintings are then excluded from the base of the business tax.

Patronage: 60% of tax reductioncapped at 0.5% of turnover. If the threshold is exceeded, it is possible to defer the surplus for 5 more years.