(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 expose 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 reduction capped at 0.5% of turnover. If the threshold is exceeded, it is possible to defer the surplus for 5 more years.