white.walls
creative & art consulting
Martial Raysse, Made in Japan
The great Odalisque, 1964
Acrylic paint, glass, fly, synthetic fiber trimmings, on photograph mounted on canvas. 130 x 97 cm. Photo VA
the text of the law
The company can deduct 100% of the price of the work from the profit before tax
By equal fraction over 5 years
20% per year
Exhibition for five years with access to the public, customers and/or employees.
Businesses that purchase original works of art from living artists and include them in a fixed asset account can deduct100% of the price of the work of the result before tax in equal fractions over 5 years. (20% per year).
Beyond this 5 p. thousand, or in the event of a deficit, the surplus can be carried over to the next 5 financial years up to a limit of 5 p. thousand. (art. 238bis 1 of the CGI).
Are affected by this tax exemption, companies subject to corporate tax, income tax in the category of industrial and commercial profits (BIC), non-commercial profits (BNC) or agricultural profits (BA) . Companies must be subject to a real tax regime. Of course, all liberal professions are affected by these advantages.
In return for this tax advantage, the company is required to exhibit the work to the "public" free of charge during the five-year period provided for by law.
The companies concerned are companies subject to corporate tax, income tax in the category of BIC, BNC or BA.
An alternative ceiling of 20,000 euros is put in place for SMEs/VSEs (excluding calculation of the 5 p.mille) in order to encourage patronage activities.
Hiroshi Sugimoto,
Seascape,
Cape Breton, 1996
Photography