Use of the tax benefits provided by the federal and state law to encourage culture.
Understand how the sponsorship per incentive law Works:
Rouanet Law (Federal Law for Culture Incentive — nº 8.313/91 art. 18)
The Baccarelli Institute has its project approved by the Ministry of Culture in the Rouanet Law (8.313 / 91 art.18) and any donation of legal entity can be slaughtered up to 4% of Income Tax Due.
Which companies can support using the Rouanet Law?
– Legal entity that works on a real profit basis.
How it Works?
– The contribution is made in the current year through direct deposit into the project account, opened at Banco do Brasil and audited by the Ministry of Culture.
– The Baccarelli Institute issues a patronage receipt regarding the contribution amount and this amount must be informed in the Income Tax declaration and consequently it will be written off in the final calculation of the Income Tax to be paid.
Proac (State Act for Culture Incentive — nº 12.268)
Through PROAC, legal entities with an establishment in São Paulo may have a deduction of up to 3% of their ICMS, if they sponsor cultural projects previously approved by the Secretary of State for Culture. The deduction in ICMS due is full – 100%, and there is no contribution from the taxpayer.
The percentages of deductible ICMS vary according to the amount of tax (ICMS) paid annually by the company – ranging from 3% to 0.038%.
Register for Proac
The sponsor must register with the Treasury Department to be able to use monthly credits. Access to the system is available to taxpayers from the Electronic Tax Office (PFE) – electronic address http://www.pfe.fazenda.sp.gov.br