Tax Incentives for Museums and Cultural Heritage

Sigrid Hemels ()
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Sigrid Hemels: Erasmus School of Law, Erasmus University Rotterdam

Chapter Chapter 7 in Tax Incentives for the Creative Industries, 2017, pp 107-135 from Springer

Abstract: 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 volunteersVolunteers . Important incentives for museumsMuseum and archivesArchives are the ability to pay taxes with art and heritage objects as well as the wealth taxWealth tax exemptionExemption 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.

Keywords: Museum; Cultural heritage; Acceptance in lieu of taxacceptance in lieu of tax; Gift deduction; Charity; Monument; Donation; Resale right; Volunteers (search for similar items in EconPapers)
Date: 2017
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DOI: 10.1007/978-981-287-832-8_7

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