Tax relief for donations to museums

(25.03.2021.)

On Thursday, March 25, the Saeima in the final reading adopted amendments to the Corporate Income Tax Law, introducing tax relief for donations to museums.

The Saeima has determined that the tax relief provided for in the Corporate Income Tax Law will also apply to state museums – derived public persons. 

Previously, the corporate income tax relief applied to donors who donated to public benefit organisations or state capital companies, for example, theatres, orchestras.

The changes in the law are related to amendments to the Museum Law adopted by the Saeima and amendments to the Law on Cultural Institutions, which aim to improve the management of state museums and the relevant regulations in the field. The status of a derived public person is also envisaged as one of the possible legal forms for state museums.

 

Saeima Press Service

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