Art and culture operators to get measures supporting and encouraging their fields

In his budget address on Monday, Finance Minister Clyde Caruana stated that the government is proposing a package of measures to assist and encourage artists, producers, and promoters in the sphere of art and culture.

A new income tax rate of 7.5 percent will be implemented for artists beginning in base year 2022, and a system will be implemented to establish the income of artists over an average of three years for income tax purposes.

A €1 million guarantee fund will be established for cultural events, allowing producers and organisers to recuperate expenses when unforeseen limitations are imposed. A additional €2 million has been set aside for use if seats cannot be sold due to limitations.

The Malta Arts Council will also get €2 million in funding to support creative initiatives.