INVESTMENT IN ART TAX DEDUCTIONS PURCHASE OR LEASE
A - COMPANY
1 - PURCHASE
According to Article 238 of the CGI AB, companies acquire original works of living artists who enroll in an asset account immobilized art can deduce the result of the acquisition period and 4 years following, in equal installments of 20%, an amount equal to the purchase price in the ceiling of 5/1000.
The works will be exhibited in places accessible to the public and employees during the 5 years of amortization. Works of art are exempt from the calculation base of the business tax.
2 - LOCATION
Rent (or purchase) of works of art, creates a cultural universe of quality in the business for both customers and employees.
The lease can be considered permanently with the possibility of change works monthly, quarterly, semi-annually or in a timely manner within the framework of an event a few days to several weeks.
For rent with option to buy.
B - SPECIAL -
Works of art have in French law a specific and attractive tax:
Exemption from ISF
Favorable taxation of capital gains
Transmission of heritage: art, under certain conditions, can be integrated in the package 5% of the furniture in case of succession
Dation in payment of certain taxes, the law allows owners of works of art to pay some tax (ISF, inheritance, gift-sharing) by providing a work to the State. This procedure suspends the payment of duties.