A R e w a r d i n g C o m m u n i c a t i o n S t r a t e g y
In the space of two decades, digital advancement and the increase of women in the workplace has transformed the image of the 21st century businessperson. Both a social and ecological subject, concerns surrounding the well being and productivity of employees in their workplace environment is at an all time high. With this in mind, art is often found in significantly expanding companies. The presence of art in business establishments adds life and culture to an area. ‘Artmania’ and other beneficial effects are contagious. Once having experienced the harmonious, tranquil and soothing effects of such an environment what company head would not wish to recreate a similar atmosphere in the workplace where he or she spends so much of their day? Employees spirits can be boosted by personalising a company’s reception. Furthermore, avoiding the image of monotony in favour of openness and curiosity, is a must. Lets not forget that a company’s reception says a lot about the trade, environmental and social policy of a company. However, the business owner must build strong relationships with his or her suppliers and buyers as with any other contractors in his or her industry. To achieve this, one must strengthen their image. Art is the ideal media in order to achieve this with. Furthermore, adding personality to a company’s premises opens up a new opportunity for communication; the installation of an artwork could be the occasion to gather VIP customers and business partners. It is also possible to mention one’s support of the arts on the Internet, in a newsletter or on the work’s label.
T h a n k s t a x d e p a r t m e n t!
Need to be an expert to invest in art? No, because at eLovart a dedicated advisor is on hand to tailor to your taste, environment, and renown of the artist.This way, you can be sure of a profitable investment. Bearing in mind the market report of contemporary art has augmented by 1 400% in the past seventeen years.
As lucrative as investing in art can be, the overall cost can finish relatively little thanks to tax benefits associated with the purchase of works of art. Put simply, "it’s free!" provided that certain non-restraining conditions are fulfilled.
If your company purchases an original work of art from an artist, it’s cost can be deducted from your annuel taxable profit by fraction of equal value. This is possible from the first year of purchase and then for the next four years.
Each deductible fraction may not exceed the 5% limit of turnover. For example, if you make achieve a turnover of €300 000, you may deduct €1500 per annum. Over five years, this represents an artwork valued at €7500.
To deduct the purchase of a work of art from your annuel taxable profit, the following requirements must be met:
- The work must be acquired from a living artist
- The work must be purchased directly from the artist or by the intermediate of the art market
- The work must be exposed in an area accessible by the public and/or employees (reception, corridors, waiting rooms, personal offices excluded) for a period five years
- The exposition must remain permanent during the required five years and not only on occasion (temporary expositions or seasonal festivals)
- The public must be informed of the exposition and the possibility to access the work
- The work must be reported in balance sheet assets
All structures are eligible, except for companies that purchase with the intente of resale (those involved in the art trade), independent entrepreneurs and liberal professionals. Between the advantageous tax deductions and the overall value of works, investing in art is a fantastic expenditure; practically without risk. So why not treat yourself by improving your surroundings and boosting your image?