Nothing is more positive for a company that acquiring a work of art.
It is recognized as art, on the workplace, provides wellness and inspiration.
It can convey your culture, your values and sends a special energy around him. It also attracted your visitors, customers or partners.
But beyond the visual pleasure and beautification of places, art returns a dynamic image and allows you to communicate, supporting a living artist. It reflects the commitment of your company!
While participating in the development of contemporary art (encouraged by the French tax measures), you have the opportunity to invest in a real safe haven.
Today the tax exemption allows professionals and businesses to build an art collection while reducing their taxes.
The acquisition of works of art is within the reach of all businesses and professions.
The companies concerned are those subject to the corporate income tax, the income tax in the category of industrial and commercial profits (BIC), non-commercial profits (BNC) or farm profits (BA). Businesses and professions listed in its own name may enjoy tax deductions based on their tax regime. Companies face an effective tax regime.
Purchases of works are deductible from taxable income to the extent of 0.5% of revenue, provided exposure to the public acquisitions for 5 years, corresponding to the period of amortization.
The original works of living artists are excluded from the base of the business tax. The works purchased are the property of the company and included in an asset account (the objective is to promote contemporary art and not to enrich public collections).
Additional costs related to the acquisition (fees paid, freight …) become a « classic » load.
When the choices are relevant, the company may find long-term capital gain sometimes substantial. If sold at a profit, surpluses are subject to the regime of business capital gains and benefit, for sales in excess of two years of taxation at reduced rates.
These recent steps taken by the State as well as changing attitudes increasingly moving art dealers to turn to the Patronage. Today, a simple Internet search reveals that few galleries established develop this activity. The choice and quality of works of art can therefore suffer.
Turnover of your business higher or equal to € 700,000
and result € 80 000
Ceiling 000×5 = 700/1000 = € 3 500
Amortized over 5 years, so less of the year:
7000/5 = € 1 400
Reduction of social security contributions (between 20 and 35%):
1400×35% = 490 €
Reduction of IR: (1400 – 490) x40% (marginal slice) = 364 €
A total deduction of years 854 x 5 = 4 270€
THEN YOU ACQUIRED THE WORK FOR ACTUAL AMOUNT OF 2,730 €
You reduce tax on your company 1400×33% = 462 €
Either a tax reduction 462×5 years = 2 310 €
THEN YOU ACQUIRED THE WORK FOR ACTUAL AMOUNT OF € 4,690..
Turnover of your business higher or equal to € 200,000
and result € 30,000
Ceiling 000×5 = 200/1000 = 1000 €
Amortized over 5 years, so less of the year 4000/5 = 800 €
THEN YOU ACQUIRED THE WORK FOR ACTUAL AMOUNT OF 1,560 €.
THEN YOU ACQUIRED THE WORK FOR ACTUAL AMOUNT OF 3 400 €.
If you have a particular desire or a « heart stroke », you can enjoy exclusive benefits today for tax exemption. Indeed, the decision to perform the deduction over the management of the company and is not subject to prior authorization of the administration.
Where appropriate, the role of the gallery is to guide, steer, advise, taking into account your workplace, environment available. Choose a work of art is to choose more than just decoration.
Today, thanks to the latest image editing software, it is possible to simulate collisions of paintings or sculptures facilities in your area. This way you will be able to see different proposals of works and give you an excellent idea of the result.
For more information, you can contact us on firstname.lastname@example.org