Local businesses donated almost €140,000 to cultural organisations in 2016, taking advantage of a 150 per cent tax deduction scheme introduced last year. 

ŻfinMalta performers on stage.

The 40 donations were made by 34 separate companies, which received a collective tax benefit of €24,222 through the scheme, Arts Council Malta said in a statement. 

Under the tax deduction scheme, companies that give donations to non-profit cultural organisations, public cultural organisations or Arts Council Malta itself as an intermediary on behalf of a beneficiary, may claim the amount donated at 150 per cent against the income for the year of assessment when the donation was made. The maximum tax deduction is capped at €50,000.

Of last year's donations, 27 were given to heritage entities, totalling €49,362, while 11 went to the performing arts (choirs, band clubs and education activities related to performing arts), totalling €68,650. Two donations went to beneficiaries of the Malta Film Fund, totalling €20,000 – this tax incentive was extended to beneficiaries of the film fund in order to solicit funding towards production and post-production costs not covered by the Film Fund.

The 150 per cent tax deduction scheme has been confirmed for 2017. For more information and to find a list of organisations which can receive donations under the scheme, visit the Arts Council Malta website.