During Budget 2016, Government announced a new measure to encourage further partnerships between Malta’s business community and the cultural sector.
Through this measure, companies giving donations to non-profit cultural organisations, public cultural organisations or to Arts Council Malta as an intermediary on behalf of a beneficiary, may claim the amount donated at 150% against the income for the year of assessment when the donation was made. The maximum tax deduction is capped at €50,000. This incentive is effective as of 1st January 2016.
The Subsidiary Legislation 123.102 states the following:
Where, in any year of assessment, a company proves to the satisfaction of the Commissioner that it has made a cash donation to the Arts Council Malta or a cash donation to a nonprofit making cultural organisation approved by the Arts Council Malta, such donation may be claimed as a deduction against income for the year of assessment in which it is made, provided that a certificate is issued in this respect by the Arts Council Malta and that, in the case of a donation to a cultural organisation as aforesaid, such cultural organisation is not in any way related to the donor company.
For further information you are kindly requested to visit:
Subsidiary Legislation 123.102
Those interested kindly find a link to the:
- Incentive guidelines Incentive guidelines
- A sample of the Application Form Application Form
- A sample of the Donation Agreement Sample Donation Agreement
Any person wishing to contribute towards the objectives of our association is most welcome to do so. Any donation is appreciated and can be effected directly through Paypal.
A receipt will be issued for each donation and will include details of the project towards which such funds will be applied.