30% tax credit for the renovation of hotels and 65% for private donations that contribute to the restoration of cultural assets. These are the main innovations introduced today by the Government with the Culture decree.
“More tax reduction and simplification measures to restore to our country the qualities that are recognized for it – commented the undersecretary to the Prime Minister, Graziano Delrio, at the end of the Council of Ministers -. The provision fits into the style of the government: we issue decrees to solve the most urgent problems and to restart tourism, but then we start a consultation which – in the case of tourism – will lead to the complete restructuring of the sector in six months. But in the meantime it was important to give tax incentives”.
The Minister of Cultural Heritage and Tourism, Dario Franceschini, specified that the incentive for the digitization of tourism businesses is added to the 30% tax credit for the renovation of the hotel assets. Bonuses which, moreover, are cumulative.
The heart of the provision, however, is the so-called "Art bonus": every private person who donates resources to the State for the restoration of cultural heritage will be able to enjoy a tax credit equal to 65% of the donated sum, which can be repaid over three years.
The measure therefore provides for “facilitations for acts of patronage, not for sponsorships or other things – explained Franceschini -. We are talking about a donation given to the public, which currently has an almost insignificant deduction, while with the Art bonus we place ourselves alongside countries such as France, where the law on patronage has brought extraordinary results”.
The minister therefore said that he rejected the "late ideological taboos" on the entry of private individuals into culture, "because if a private individual wants to make a contribution he must be welcomed with open arms and we offer him a tax incentive with a tax credit of 65% which is amortized over three years, within the limit of 5 per thousand of the turnover of companies or 15% of the taxable income of the private individual. So important donations can also be made”.
