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What is the Tax Deduction for Investment in Culture?
The tax deduction for investment in culture allows for a 120% tax deduction on amounts invested in cultural projects. In other words, not only can you deduct 100% of your contribution, but you also receive an additional 20% benefit. This incentive is designed to encourage support for film productions, live performances, and other certified cultural projects.
Practical Example
Suppose you are self-employed and owe €9,500 in taxes. If you decide to invest €10,000 in a certified cultural project:
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Investment made: €10,000
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Applicable deduction: €12,000 (120% of your investment)
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Final result: Instead of paying €9,500, you would receive a refund of €2,456.
This benefit turns your investment into a financially strategic tool, combining savings and tax profitability.
Please, read further: https://elutax.com/deduccion-fiscal-inversion-cultura/