The art of taxation, Mexico
Posted on | April 26, 2010 | No Comments
Here’s an interesting tidbit to start your week with…In Mexico, visual artists can pay their taxes with art works. According to USA Today “That’s the deal Mexico has offered to artists since 1957, quietly amassing a modern art collection that would make most museum curators swoon. As the 2009 tax deadline approaches, tax collectors are getting ready to receive a whole new crop of masterworks…
There’s a sliding scale: If you sell five artworks in a year, you must give the government one. Sell 21 pieces, the government gets six. A 10-member jury of artists ensures that no one tries to unload junk.
Under the program, the Ministry of Finance and Public Credit now owns 4,248 paintings, sculptures, engravings and photographs by Diego Rivera, Rufino Tamayo, Leonora Carrington and other masters.”
You can check out “Colecciones Pago en Especie” here to see the art works which have been used to pay taxes since the program began.
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