The Council for Cultural Affairs (CCA) in Taiwan has unveiled a new bill which could give tax concessions to individuals who spend money on cultural activities.
The bill was announced by the CCA's Minister, Huang Pi-tuan, who explained that it would provide taxpayers who regularly spend money on cultural activities with a potential tax deduction of NT12,000 (USD350).
The idea is to fuel national interest in cultural activities. Individuals will be able to use the receipts for trips to concerts, operas and movies as a deduction on their annual tax return.
It is hoped that the bill will be ratified in time to allow deductions on tax returns in 2010.
In total, if fully utilised by the populace, the new tax break could result in a revenue loss of NT6.5bn (USD192m) for the government.
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