The Government, through the Ministry of Culture, has emphasized that private social investment is another “key” element to develop a “vibrant and resilient” cultural ecosystem and has defended that the current framework for promoting patronage and tax credits allows and favors private social investment that is allocated to the cultural sector.
This was stated by the Executive in a parliamentary response, consulted by Europa Press, to Vox’s written question in the Congress of Deputies about the impact of private social investment in the conservation of Spanish heritage and in which they asked to know any measure that favors this and other initiatives that increase private social investment in culture.
In response, Culture assures that both the Government and the ministry headed by Ernest Urtasun will continue to analyze and improve the mechanisms that allow promoting private social investment in the field of culture, in order to strengthen Spanish cultural industries and sectors.
Likewise, they explain that the promotion of patronage initiatives is supported by tax incentives for donations and a special tax regime for Non-Profit Entities. In this sense, they point out that Title III of the Law regulates the tax benefits applicable to donations, donations and contributions made in favor of the beneficiary entities.