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March 24, 2023

Gov’t spokesman: Donations to purchase Brancusi’s ‘Wisdom of Earth’ to be deducted from profit tax

The government has passed on Wednesday an emergency ordinance to ensure financial resources for purchasing the ‘Wisdom of Earth’ sculpture by Constantin Brancusi, by which the donors will be able to deduct these donations from their profit tax.

The public subscription campaign will kick off at mid-April, the government’s spokesman Dan Suciu announced in a briefing at the Victoria Palace (seat of the Government).

He mentioned that these derogations aim at encouraging the donation process and reaching the amount of 11 million euro the Romanian state has to pay to the masterpiece’s inheritors – five million euros from the state budget and six million euros from public subscription, respectively.

According to Suciu, the act also sets up the mechanism for reimbursing the donations, should the subscription fail to garner six million euros.

Asked whether the government would encourage the state-owned companies to contribute, Dan Suciu denied, saying, “It is not our goal to take from one pocket and put into the other.”

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