Private museums of modern art will receive new benefits Automatic translate

MOSCOW. The Government of the Russian Federation supported the bill introducing tax incentives for non-state museums of modern art. After amendments to the Tax Code, the rate for private museums will be 5% of the value of an art object created less than a hundred years ago.

The bill proposes that non-state museums will also enjoy privileges when importing and exporting cultural property, which until now has been exclusively provided to state and municipal cultural institutions. It is assumed that the adoption of this bill will stimulate the creation of new museums of contemporary art, experts say.

Anna Sidorova © Gallerix.ru