Handbook of Cultural Economics, Third Edition
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Handbook of Cultural Economics, Third Edition

Edited by Ruth Towse and Trilce Navarrete Hernández

Cultural economics has become well established as a subject of interest for students and teachers of courses ranging from economics to arts administration as well as for policy-makers and practitioners in the creative industries. Digitisation has had a tremendous impact on many areas of the creative economy and the third edition of this popular book fully reflects it.
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Chapter 55: Tax concessions

John W. O’Hagan


This chapter sketches the extent and nature of the main tax concessions to the arts in Europe and the United States, charitable contribution deductions, value added tax (VAT) reductions and special treatment of the income of artists. The issue of why tax expenditures are often not seen as a cost to the taxpayer, similar to direct grants/subsidies, is discussed. The advantages and disadvantages of tax expenditures versus direct grants to the arts are examined in detail based on two criteria: state interference and value for money from the expenditure.

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