Romania offers tax-free donations for Brancusi sculpture

AP News
Posted: Apr 11, 2016 9:05 AM

BUCHAREST, Romania (AP) — Romania's culture minister says people who donate money toward the purchase of a sculpture by Constantin Brancusi, considered one of the country's finest modern art works, will get tax breaks.

Vlad Alexandrescu said Monday accounts have been opened at six banks for a 6 million-euro ($6.84 million) public donation campaign for the "Wisdom of the Earth" sculpture. Businesses can also write off donations as a business expense.

Romania's government said last month it would pay 5 million euros toward the 11-million-euro purchase price.

The limestone statue created in 1907 or 1908 depicts a woman sitting with folded arms, her legs pulled up.

It was confiscated in 1957 and became the center of a prolonged legal dispute after communism ended. In 2008, it was returned to the original owner's family.