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Companies sponsoring performing arts organisations benefit from double tax relief under the Performers Act. These companies can deduct this support from their taxes as well as from their tax base.

In December 2008 the Parliament adopted the law on the support of performing arts organisations (Act XCIX of 2008), which took effect on 1 March 2009. Act LXXXI of 1996 on corporate and dividend tax was amended in several places from 12 November 2009.

The purpose of the Act is to foster the cultivation and development of quality performing arts in Hungary as well as theatre, dance and music art. According to the Act taxpayers who support performing arts organisations can benefit from tax relief by obtaining a certificate from the Performing Arts Office established as part of the National Office of Cultural Heritage.

Based on the provisions of the Act, any support given to performing arts organisations qualifies for double tax relief at the companies concerned, because they can reduce their taxable base and their taxes with the amount donated.

For more information on the law, just email us at partner@bfz.hu or call +36 1489 4333.

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