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A tax benefit little known by companies is the acquisition of a work of art and the resulting tax deduction.

 

According to article 238 bis AB of the general tax code, the main conditions for benefiting from this deduction are as follows:

• the original work must be acquired from a living artist,

• the company must display in a place accessible to the public or to employees (with the exception of their offices) the property it has acquired for the period corresponding to the year of acquisition and the following four years,

• the company must specify the terms and place of exhibition of the work to the public,

• the acquisition price of the work is  deducted by equal fractions from the results of the year of acquisition and the following four years,

• the deduction made for each financial year  may not exceed the limit of 5‰ of turnover.

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Beyond the savings made, the purchase of art by a company helps to enhance its image with its employees but also with its customers. The company can invest in an artist in line with its values, communicate on this collaboration.

For more information on tax exemption, do not hesitate to  Contact us.