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Gli Amici di Utange - ODV will issue a receipt to the donor which, together with a copy of the transfer made using traceable systems, will entitle the donor to tax benefits.

The tax breaks

What are the tax breaks for corporate donations?

Tax breaks for corporate donations can be of different types. Companies may deduct the amount donated without an absolute limit but within 10% of total declared income (without the 70,000 euro limit, as previously provided). Moreover, again within the 10% limit, in the event that the deduction exceeds the value of total declared income net of other deductions, the portion of the deduction not enjoyed, can be carried forward in subsequent returns, up to the fourth subsequent tax period (example, a donation made in 2018 can be discounted even up to 2023).

For the donor company, the liberal disbursement follows the cash principle.

What are the tax benefits for individuals' donations?

Tax breaks for donations by individuals are of two types. Individuals can in fact choose whether:

• detract the amount (for a maximum of 30,000 euro donation) to 30 percent, or
• deduct the amount donated with no absolute limit but within 10% of total declared income.

Of all entities, Volunteer Organizations can also have their donors apply a 35 percent deduction, again for a maximum donation of 30,000 euros.

Between deduction and deduction, it can be said that those who have an income greater than 30,000 euros are more likely to deduct. Consider the fact that it will be the person who will choose, when filling out the tax return, whether to apply the deduction or the deduction: as for businesses, in the case of applying the deduction it will be possible for the taxpayer to carry over to future returns the part of the deduction not enjoyed.

(Source: www.italianonprofit.it)