Financial incentives for philanthropy to be introduced by govt next year when Verkhovna Rada adopts the law – Berezhna
Financial incentives for patronage will be introduced next year by government decision after the Verkhovna Rada adopts a law on patronage in the cultural sphere, according to Deputy Prime Minister for Humanitarian Policy and Minister of Culture of Ukraine Tetyana Berezhna.
"Patronage is about responsibility and trust. It's about the desire to invest in culture, in talented children, in heritage, in the country that's being created here and now. The desire to leave behind something greater than the projects we've completed," Berezhna wrote on Facebook.
She noted that Ukrainian patronage has a long history, but previously there were no government regulations that would create transparent tools for supporting culture.
"Many are asking whether the draft law [on philanthropy] includes tax breaks for businesses, as these are financial incentives for philanthropy. Financial incentives for philanthropy will be implemented next year by government decision after parliament passes the law itself," Berezhna stated.
As reported, on December 4, the Cabinet of Ministers approved a draft law on philanthropy in the cultural sector. The draft law launches a new model of partnership between the state, business, and civil society and offers incentives for philanthropists. The proposed areas of philanthropy include: support for the material and technical infrastructure of cultural institutions; construction, reconstruction, restoration, and renovation; creation and promotion of national cultural products; and support for festivals, exhibitions, competitions, and auctions. Types of philanthropy include: donations of funds, buildings, property, land, and transport; free provision of services and performance of work; and the purchase and transfer of equipment and inventory. The state will support philanthropists through: state awards and honorary distinctions; the opportunity to perpetuate the philanthropist's name; and other forms of assistance provided by law.
