Paris (AFP)
The government wants to lower the rate of tax exemption for corporate sponsors for their donations greater than 2 million euros, with the exception of aid to the most deprived, announces the Secretary of State Gabriel Attal in an interview to the economic newspaper Les Echos to appear Thursday.
"Companies that give more than 2 million euros per year will see their rate of tax exemption from 60% to 40% for amounts that exceed this threshold," said Secretary of State to the Minister of Education and youth.
In all, 78 large companies would be affected by this measure, he detailed, adding that the measures envisaged by the government "will reduce the tax expenditure of the order of 80 million euros per year, from 2021" .
On the other hand, "the rate of 60% will continue to apply for all donations" made to aid associations for the most deprived (so-called "Coluche law"), said Mr. Attal.
"If patronage becomes considered a tax optimization mechanism, it will eventually be challenged in its very principle, as was the case at the time of Notre-Dame", he said to justify this reform .
"Our goal is good that sponsorship does not become a tax niche," said the youngest member of the government.
Since a law of 2003, companies that invest in culture can deduct 60% of their spending in favor of patronage (66% reduction of income tax for individuals).
The device was however criticized after the fire that partially ravaged Notre Dame on April 15, when several large companies and large fortunes had announced very important donations.
© 2019 AFP