Tax incentives for donation

28.03.2011
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Tax incentives for individuals

Under the provisions of the Article 22 (1), letter “l” of the Income Taxes on Natur al Persons Act the sum total of the annual taxable amounts shall be debited with any donations made during the year up to 5 per cent, where the donation is in favour of any not-for-profit legal entities, registered in The Central Register of Non-Profit Legal Entities for pursuit of public benefit activities.

 

Tax incentives for legal entities

Under the provisions of the Article 31 (1), 14 the accounting expenses on donations to a total amount of up to 10 per cent of the positive accounting financial result (accounting profit) shall be recognized for tax purposes where the expenses on donations are incurred in favour of any not-for-profit legal entities, registered in The Central Register of Not-for-Profit Legal Entities for pursuit of public benefit activities.