On Wednesday, 10 March, Latvian parliament’s Budget and Finance Committee supported for the final reading amendments to the Enterprise Income Tax Law. The proposed amendments provide tax benefits for museum donations, as reported by Saeima’s press-service.
Amendments state that the benefit from the Enterprise Income Tax Law will become applicable for state museums.
Currently the benefit listed in the Enterprise Income Tax Law is applicable to donators that donate to
public benefit organizations or state companies such as theatres and orchestras.
Changes to the law are related to amendments to the Law on Museums and amendment to the Law on Culture Institutions currently under development by Saeima’s Education, Culture and Science Committee. Changes to the law are intended to improve management of state museums and clarify in the industry’s regulation.
Changes to the law now have to be reviewed in the final reading by the Saeima.