Tax reduction for donations to the Fondation du patrimoine funding works on privately owned historic monuments

Article 10 of the 2007 Finance Act extends the tax reductions for donations (Article 200 of the General Tax Code for individuals, Article 238 bis for businesses) to payments made to the Fondation du patrimoine, or to a foundation or association that allocates them to it, to subsidise works on protected buildings owned by private owners. The works must be set out in a public agreement between the Foundation and the owner, who undertakes in particular to keep the building and open it to the public for ten years; the building must not be used commercially and the donor must not be related to the owner. The measure applies to the taxation of 2007 income and to payments in financial years beginning on or after 1 January 2007.