In the present State Budget proposal for 2021, for the first time in more than 12 years (the last major reform was in 2008), a special regime of tax benefits to support culture for the year 2021 was introduced with a special focus actions or projects in the area of heritage conservation or museological programming. In a budget very focused on social aspects, it is worth noting the concern of public decision-makers in the culture sector, which has suffered a lot due to the limitation of events due to the pandemic situation.
This benefit provides that in the 2021 taxation period, donations in the form of cultural patronage are increased by 10 percentage points, provided that the annual amount is equal to or greater than € 50 per beneficiary entity and provided that it is directed at actions or projects in the area of heritage conservation or museological programming.
Thus, taking into account that the existing tax benefits increased by 130% and 140% (for multi-year contracts) the expenses for IRC purposes, they increase to 140% or 150%, depending on the case. It is enough to realize that this increase makes these incentives one of the most desirable in terms of expenses considered for tax purposes. In particular, we refer to increased expenses in exhibitions or restoration of buildings, which are very important for the strengthening of the national museological and cultural heritage.
In addition, a measure is introduced, this of a permanent nature, in the individual patronage that allows the IRS, when the annual value of the donations is greater than € 50.000,00, the deduction not yet made can be made in the settlements of three following tax periods, up to a limit of 10% of the IRS collection calculated in each of the tax periods, that is, it allows the insufficiency of collection not to be an obstacle to the deductibility of expenses in the IRS, a fact that already happened partly with multi-annual IRC contracts.
Could we go further in the cultural measures fiscal measures? No doubt it is, because we are always talking about very low public budgets for cultural spending. In any case, this is a test of confidence left to the private sector, who will (or will not) have to demonstrate receptivity, but which does not exempt the State from responsibility for initiatives that it can promote - but that no longer depends on fiscal policy.