Business Irish

Friday 2 December 2016

No art donated to State since 2008

Published 30/01/2011 | 05:00

EVEN the prospect of tax breaks hasn't been enough to get art donors out of the woodwork during the recession.

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Neither the National Gallery of Ireland nor the Irish Museum of Modern Art has received any art over the past two years under Section 1003, which gives tax relief to those who donate to the State.

This is in contrast to the boom years when businessmen were rushing to donate. Among them was ESB chairman Lochlann Quinn, who donated Louis le Brocquy's 'A Family' to the National Gallery.

Collectors have also stopped loaning works of art to museums under Section 606 -- a scheme which gives them a tax break if they sell a work of art that has been on display for over 10 years.

Sunday Indo Business

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