On June 6, the draft Law of the Republic of Uzbekistan “On philanthropic activity and cultural sponsorship” was published on the Single Portal for Interactive Public Services. The regular session of the International Press Club was devoted to the essence and significance of this draft law and the issue of forming new traditions of philanthropy in the country.

On June 6, the draft Law of the Republic of Uzbekistan “On philanthropic activity and cultural sponsorship” was published on the Single Portal for Interactive Public Services. The regular session of the International Press Club was devoted to the essence and significance of this draft law and the issue of forming new traditions of philanthropy in the country.

First Deputy Chairman of the Senate of the Oliy Majlis S.Safayev, Minister of Culture B.Sayfullayev, and others noted that philanthropy plays an important role in development of culture, art and education. For example, now in Europe and the USA philanthropists support creative figures, representatives of science, more states are investing in preservation of cultural heritage, monuments and works of art.

It is necessary to form new traditions of philanthropy in Uzbekistan, on the basis of foreign experience. The legal basis for principles of philanthropy and cultural sponsorship in the country has become an important step along this path.

The draft law of the Republic of Uzbekistan “On philanthropic activity and cultural sponsorship” provides tax incentives for philanthropists – legal entities. Namely – in case of granting philanthropic support by a legal entity at an amount equal to or exceeding 10 thousand US dollars in equivalent, a philanthropist has the right to receive a tax deduction in the amount equivalent to 75 percent of the granted sponsorship assistance, but not more than 15 percent of the total annual taxable amount profits of the philanthropist during one financial year.

In case of granting within the cultural sponsorship of immovable property or cultural values constituting the national property of the Republic of Uzbekistan, the amount of tax benefits may be increased to 35 percent of the total amount of the annual taxable profit of the philanthropist within one fiscal year.

The Head of UNESCO office in Uzbekistan Dendev Badarch, Manager of the Louvre museum in Paris Gaelle Dakan, Deputy Director of the State Tretyakov Gallery Tatyana Mrdulyash, the Rector of the International Islamic Academy of Uzbekistan Nematulla Ibragimov delivered speeches at the event.

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Philanthropic activity and cultural cooperation

On June 6, the draft Law of the Republic of Uzbekistan “On philanthropic activity and cultural sponsorship” was published on the Single Portal for Interactive Public Services. The regular session of the International Press Club was devoted to the essence and significance of this draft law and the issue of forming new traditions of philanthropy in the country.

On June 6, the draft Law of the Republic of Uzbekistan “On philanthropic activity and cultural sponsorship” was published on the Single Portal for Interactive Public Services. The regular session of the International Press Club was devoted to the essence and significance of this draft law and the issue of forming new traditions of philanthropy in the country.

First Deputy Chairman of the Senate of the Oliy Majlis S.Safayev, Minister of Culture B.Sayfullayev, and others noted that philanthropy plays an important role in development of culture, art and education. For example, now in Europe and the USA philanthropists support creative figures, representatives of science, more states are investing in preservation of cultural heritage, monuments and works of art.

It is necessary to form new traditions of philanthropy in Uzbekistan, on the basis of foreign experience. The legal basis for principles of philanthropy and cultural sponsorship in the country has become an important step along this path.

The draft law of the Republic of Uzbekistan “On philanthropic activity and cultural sponsorship” provides tax incentives for philanthropists – legal entities. Namely – in case of granting philanthropic support by a legal entity at an amount equal to or exceeding 10 thousand US dollars in equivalent, a philanthropist has the right to receive a tax deduction in the amount equivalent to 75 percent of the granted sponsorship assistance, but not more than 15 percent of the total annual taxable amount profits of the philanthropist during one financial year.

In case of granting within the cultural sponsorship of immovable property or cultural values constituting the national property of the Republic of Uzbekistan, the amount of tax benefits may be increased to 35 percent of the total amount of the annual taxable profit of the philanthropist within one fiscal year.

The Head of UNESCO office in Uzbekistan Dendev Badarch, Manager of the Louvre museum in Paris Gaelle Dakan, Deputy Director of the State Tretyakov Gallery Tatyana Mrdulyash, the Rector of the International Islamic Academy of Uzbekistan Nematulla Ibragimov delivered speeches at the event.