Tax Incentives

State

At the state level, the Algar Institute encourages projects through the ICMS - State Law of Cultural Incentive (Lei Estadual de Incentivo à Cultura) (Minas Gerais and São Paulo).

How does it work?

Deduction of tax due by up to 80% of the total amount allocated to the project. The deduction of the invested funds will be made according to the three tax breaks heights - 10%, 7% and 3% of the ICMS due - according to the annual turnover of the sponsoring company.

The remaining 20% ??are considered the own participation of the supporter. This is a compensation that can be made in cash, provision of goods, services or property usage cession, needed to complete the project.