Support
The Public Foundation for Modern Art that operates the Institute of Contemporary Art has operated as a prominently public benefit organization since 1998.
According to the regulation valid since January 1, 2010 supporting or supporting permanently a prominently public benefit organization is beneficiary if the donor is not given any other compensation but that of the mention and display of the fact of the donation.
100% of the donation given to a prominently public benefit organization can be accounted as other expense, in addition, the tax base can be reduced by 50% of the amount of the donation.
Moreover, in case the parties conclude an agreement of long term donation, the tax base can be reduced by another 20% of the amount of the donation.
According to the regulation valid since January 1, 2010 supporting or supporting permanently a prominently public benefit organization is beneficiary if the donor is not given any other compensation but that of the mention and display of the fact of the donation.
100% of the donation given to a prominently public benefit organization can be accounted as other expense, in addition, the tax base can be reduced by 50% of the amount of the donation.
Moreover, in case the parties conclude an agreement of long term donation, the tax base can be reduced by another 20% of the amount of the donation.
For more information please contact Nóra Deák.
