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Tax Incentives for Museums and Cultural Heritage

In: Tax Incentives for the Creative Industries

Author

Listed:
  • Sigrid Hemels

    (Erasmus School of Law, Erasmus University Rotterdam
    Allen & Overy)

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.

Suggested Citation

  • Sigrid Hemels, 2017. "Tax Incentives for Museums and Cultural Heritage," Creative Economy, in: Sigrid Hemels & Kazuko Goto (ed.), Tax Incentives for the Creative Industries, chapter 0, pages 107-135, Springer.
    • Handle: RePEc:spr:crechp:978-981-287-832-8_7
    DOI: 10.1007/978-981-287-832-8_7
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