The Legislature of the City of Buenos Aires has approved significant changes to the Patronage Law, with the aim of facilitating cooperation between the public and private sectors in the financing of cultural projects.

This initiative, presented by legislator Cecilia Ferrero and developed together with the Buenos Aires Ministry of Culture, seeks to strengthen the cultural fabric of the City.

The Minister of Culture, Gabriela Ricardes, highlighted the relevance of this law: “The Patronage Law is a true bridge that connects thousands of cultural projects with the economic resources necessary for their development.”, and that allows companies to contribute to enhancing the cultural scene. These modifications approved today by the Legislature are a key step to strengthen that link between public and private that Jorge Macri emphasizes so much..

The Cultural Participation Regime – Patronage, a platform of the Ministry of Culture, You will directly benefit from these modifications. This program, what includes 14 cultural disciplines, facilitates the financing of large-scale artistic and cultural projects by companies. In the call for 2023, they were selected 1126 Projects, ranging from theatrical shows to audiovisual productions and historical heritage and infrastructure projects. Since the beginning, the law has supported a total of 10.923 Projects.

The new regulations improve conditions for sponsors, who are taxpayers of the Gross Income Tax (II. BB.). They can now deduct at least the 80% of II. BB., contributing only the 20% genuinely. Previously, tax deductions decreased with each approved project, starting in the 80% and reducing to 50%. Without these modifications, from 2025 projects could only deduct the 50% of II. BB., which would make it difficult to carry out due to lack of funds.

further, The law allows sponsors to charge up to 20% of what they contribute to the II. BB., with the exception of large taxpayers, that they may charge up to 10%. The possibility of presenting up to three cultural projects is also expanded., of which two may be approved.

The call for 2024 It will be announced next September, ensuring a constant flow of support for the implementation of projects that enrich the cultural offer of Buenos Aires.