A new scheme encouraging further partnerships between Malta’s business community and the cultural sector was launched today.
Through this measure, companies giving donations to non-profit cultural organisations, and public cultural organisations may claim the amount donated as a deduction 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 and claims will start being processed in January 2017.
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