Author: MNI Alive | Date: 18 July 2019
The Montserrat Arts Council (MAC) recently announced the launch of a new campaign to encourage public contributions to cultural development.
The ‘Give through the MAC’ initiative is aimed at private companies and individuals, seeking to increase their financial support to cultural activities on Montserrat. The social media campaign provides information on how donors can benefit from the Income & Corporation Tax Act.
Based on the Income & Corporation Tax Act, Section 13J, “any contribution made by any person for the advancement of sport and/or cultural development activities, can make you eligible to receive a tax allowance for said contribution.”
“Although the Arts Council receives an annual subvention from the government of Montserrat, it is below what is needed to truly invest in building our cultural industry and supporting the growth of our creatives,” said Acting Director, Nerissa Golden. “People can trust that the Council, which is audited annually, will continue to execute initiatives such as workshops, festivals and regional representation to advance Montserrat’s culture.”
Individuals or companies can choose which cultural activity they would like to give to. For example, national festival events or the Council’s yearly cultural programmes. There is no limit as to how much can be contributed. The Arts Council will issue a letter acknowledging the amount of the contribution, along with a receipt. When filing annual taxes, the letter can be used as evidence of the company’s contribution. The amount that is contributed would be allowed as a deduction when the company’s net profit is being calculated. This will reduce the level of profit calculated and by extension, the amount of tax due to be paid.
For more information, email the MAC at firstname.lastname@example.org or call (664) 491-8555/8556.