Tax Benefits for Individuals
Liberal Donations: All donations in favor of Koinè social cooperative ONLUS are tax deductible or eligible for a tax credit according to the limits indicated by law, provided they are made through bank transfers, postal current account payments, cashier’s checks, or bank checks.
There are two alternative options:
- A tax credit for the amount (up to a maximum of €30,000 in donations) at 26%;
OR
- A tax deduction for the donated amount with no absolute limit, but within 10% of the total declared income;
Liberal Donations from Companies
Companies can deduct the donated amount with no absolute limit, but within 10% of the total declared income (without the previous limit of €70,000). Furthermore, still within the 10% limit, if the deduction exceeds the value of the total declared income net of other deductions, the unused portion of the deduction can be carried forward in subsequent tax returns, up to the fourth subsequent tax period (for example, a donation made in 2018 can be claimed until 2023);
For the donating company, the liberal donation follows the cash principle.
Please remember:
- It is advisable to consult your trusted tax advisor to choose the formula best suited to your needs.
- It is important to keep the postal or bank receipt of your donation.
- For donations made via direct debit, credit card, bank transfer, and check, the account statement serves as a receipt.
