Cultural Promotion Regime of the City of Buenos Aires (Mecenazgo)
The Cultural Promotion Regime of the City of Buenos Aires was created by law No. 2264/2006 (as amended by Law No.4.785/2013) in the year 2006.
The main purpose of the Cultural Promotion Regime ofthe City of Buenos Aires is to foster and promote private participation in the
funding of cultura l projects.
The cultural projects admissible for the Cultural Promotion Regime must be not for profit and relate to the research,training, dissemination,creation and production in different areas of art and culture,such as:
I. Theatre
II. Circus, street bands, mimes and the like. Ill. Dance.
IV. Music.
V. Literature,poet ry, narration, essays and all other forms of literary expressions. VI. Visual arts.
VII. Audiovisual arts. VIII. Crafts
IX. Cultural heritage. X. Design.
XI. Digital art.
XII. Publications,radio and TV.
XIII. Websites with artistic and cultura l contents.
The regime allows companies and businesses taxed in the City of Buenos Aires t o allocate part of what they pay as turnover ta x directly to the cultural projects declared of int erest by the Council of C ultural Promotion and approved by the Ministry of Culture.
The Council is the tool that allows the State to oversee that t ax money is allocated only t o cultural projects, pursuant to the law.
Over the last few years,laws have been enacted in different countries to foster private contribution to culture through tax benefits, inspired on the idea that the promotion of culture is a necessary investment for the social development of the community. The City of Buenos Aires is the first jurisdiction ofthe Argentine State to have a patronage law offering tax benefits to those who support cultural projects.
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Over the last few years,laws have been enacted in different countries to foster private contribution to culture through tax benefits, inspired on the idea that the promotion of culture is a necessary investment for the social development of the community. The City of Buenos Aires is the first jurisdiction ofthe Argentine State to have a patronage law offering tax benefits to those who support cultural projects.