"Payment in Kind”

Where
Mexico
When
2016
Who
The application and monitoring is responsibility of the Secretariat of Finance and Public Credit.
Key objectives of the measure:

 

"Payment in Kind" provides credit terms to Mexican artists in order to pay their taxes to the Mexican Government through works of their authorship, such as the Income Tax (ISR) and the Value Added Tax (VAT). Its application and monitoring is responsibility of the Ministry of Finance and Public Credit.

Scope of the measure:
National
Nature of the measure:
financial, institutional
Main feature of the measure:

To be selected, the works offered in payment should be representative of the author’s work and made in the last three years. Once the works have been accepted, a Committee determines which of them will be part of the nation’s artistic heritage. The works that are part of said heritage and that correspond to the states and municipalities will be delivered to them when they prove to have at least one open “gallery” for the general public, to which they will be sent and exhibit the works received.

Results expected through the implementation of the measure:

This project helps, famous and unknown, Mexican artists living in the country and abroad, by canceling their total ISR debt, and where appropriate, by reducing the VAT payment. Also, artists can decide to which National Museum they will make their donation. Since 1975, this measure was mainly encouraged by recognized Mexican artists, such David Alfaro Siqueiros; nonetheless, it was an idea previously presented by painters and muralists in Mexico, such as Diego Rivera.

Financial resources allocated to implement the measure:

The information about budget, is not available.

Goal(s) of UNESCO's 2005 Convention
Cultural Domain(s)
Multi-domain
Cultural Value Chain
Creation