The tax credit amounts to 65% of the donated sum, distributed over three years in equal annual installments.
WHO CAN BENEFIT
- Individuals (not carrying out business activities): up to 15% of taxable income
- Non-commercial entities: up to 15% of taxable income
- Businesses (companies): up to 0.5% (5 per mille) of annual revenues
HOW THE TAX CREDIT IS USED
For businesses:
The tax credit can be used as an offset:
- through the F24 form (pursuant to Art. 17 of Legislative Decree 241/97);
- to offset tax payments due;
- starting from the first day of the tax period following the donation;
- up to one third of the total credit per year.
Any unused portion within the annual limit may be carried forward and used in subsequent tax periods.
The tax code to be used for the Art Bonus tax credit is 6842 (Italian Revenue Agency Resolution no. 116/E/2014).
For individuals and non-commercial entities:
The tax credit is claimed in the income tax return:
- the first annual installment (equal to one third of the total credit) is applied in the tax return for the year in which the donation was made;
- any unused amount may be carried forward to subsequent tax years, with no time limit.
Tax Treatment of the Tax Credit
- it does not contribute to the taxable base for income tax purposes, including related regional and municipal surtaxes;
- it does not contribute to the calculation of net production value for IRAP purposes;
- it is not relevant for determining the deductible portion of interest expenses from business income, pursuant to Art. 61 of the Italian Income Tax Code (TUIR);
- it is not relevant for determining the deductible portion of expenses and other negative components (excluding interest expenses) from business income, pursuant to Art. 109, paragraph 5 of the Italian Income Tax Code (TUIR).
What you need to do
- Make your donation via bank transfer to one of the following accounts in the name of:
Intesa Sanpaolo Ag. Roveri Bologna
codice IBAN: IT31C 0306902504100000000395
UniCredit Banca Filiale Bologna 42
codice IBAN: IT50A0200802416000001147619
Gruppo Banco BPM Ag. Via delle Lame – Bologna
codice IBAN: IT39C0503402400000000014109
BPER Banca
codice IBAN: IT66X0538702400000001672449
Include the following reference:
“Art Bonus – charitable donation in support of the institutional activities of Associazione Bologna Festival ONLUS” - Indicate the donor’s tax code or VAT number
- Keep the bank transfer receipt(Optional)
- Donors may register on www.artbonus.gov.it to monitor Bologna Festival projects and the total amount of donations received.
Donors may also choose to have their name publicly acknowledged by completing a self-declaration (not required for tax benefits) and a privacy form available on the website.
Legal Framework
Art Bonus was introduced by Decree-Law no. 83 of 31 May 2014 (“Urgent provisions for the protection of cultural heritage, the development of culture and the revival of tourism”), later converted with amendments into Law no. 106 of 29 July 2014, as subsequently amended.
Certain implementation aspects were clarified by Circular no. 24/E of 31 July 2014 issued by the Italian Revenue Agency, concerning Article 1 of Decree-Law no. 83/2014. The circular defines the scope, beneficiaries, amount, use, and tax relevance of the credit, as well as compliance requirements.
The 2016 Stability Law (Law no. 208 of 28 December 2015) made Art Bonus a permanent measure, confirming the 65% tax incentive for donations in support of culture.
For further information, the Italian Ministry of Culture has created a dedicated website:
https://artbonus.gov.it