A scheme through which businesses making a donation of up to €50,000 to organisations engaged in culture and arts could benefit from a 150 per cent deduction from their taxable income was launched today by Finance Minister Edward Scicluna and Culture Minister Owen Bonnici.
The measure, announced in the last Budget, is intended for limited liability companies and those partnerships that are registered to be treated as a company.
Donations can only be affected to registered non-profit cultural organisations, and have to be approved by the Arts Council.
However, it was pointed out that private companies may not use the event or venue to for marketing or branding purposes.
Arts Council executive chair Albert Marshall said that this was part of their efforts to build bridges between the commercial and the artistic sector.