tax incentives for companies suggested Tuesday, September 13, 2016 Macri launches ‘patronage bill’ to privately fund cultural projectsPresident Mauricio Macri and Culture Minister Pablo Avelluto announced yesterday that the government had sent a new “Federal Commitment to Culture” bill to Congress for approval that will offer tax incentives to private companies that invest in cultural and artistic projects in Argentina“Imagine entrepreneurs that have incentives such as a reduction in tax expenses to finance projects. So the role of the state will be to tell employers that they can directly transfer the money to those who create these projects, without needing to go through the state itself,” Avelluto said, unveiling the details of the so-called “Patronage Bill”. He was speaking at the Usina Del Arte centre in La Boca, Buenos Aires City, yesterday. The bill promotes a “direct and transparent way of financing cultural projects of social interest through contributions from private companies,” the government said in a statement, with proposed tax incentives for participating companies. Macri meanwhile claimed that the bill would also help his much-criticized a central promise from his successful presidential campaign last year — deliver “Zero Poverty”.

Source: Bueno Aires Herald September 13, 2016 04:41 UTC