Businesses can still depreciate art purchases

26.06.24 | News

We have previously informed in newsletters and on social media about the so-called Frigast committee's recommendation to remove the possibility for companies to deduct the purchase of art from tax. Now, fortunately, we can state that the politicians have so far not taken the recommendation to heart. It was feared that the abolition of the scheme would be included in the financing of the government's recent proposals for an entrepreneur and business package respectively, but this did not happen.

In this connection, spokesperson Marie Thams says to Kulturmonitor on 20 June:

"The Free Gas Committee's recommendations still stand, and we don't feel secure until we have seen the draft Finance Act - or in fact the adoption of the Finance Act. However, we have received positive statements from relevant politicians, so we are relatively optimistic, but the fact that the abolition of the scheme is not included in the financing of the package is not in itself enough to breathe a sigh of relief.'

The Association of Visual Artists will therefore – also this year – follow the autumn's finance law negotiations with great interest.

Photo: Nana Francisca Schottländer, "Please Be Here Now", 2015. Performance in the display window at Nørgaard on Strøget. Photo: Alexandra Buhl (Brought in: Michael Solgaard: WITH THE ART AS AN INVESTMENT – meetings between business and contemporary art, Strandberg Publishing 2023)