After the earthquake that hit central Italy, the race for solidarity has started, but few know that the tax authorities can help on this front. Obviously we are not talking about donations of a few euros, such as those via SMS, but about offers of a more significant amount, which can count on various concessions.
Unfortunately, there is no law that regulates the specific case of aid sent to regions affected by natural disasters, so it is necessary to orientate oneself between the deductions and deductions foreseen for "liberal donations" in favor of associations, non-profit organizations and foundations.
It is good to clarify that it is not a question of obtaining an advantage from one's generosity, but simply of reporting to the tax authorities that the sums donated by us are no longer available to us.
In other words, if we don't take advantage of the facilitation provided, the year following the sending of the money we will also have to pay taxes on the sum we donated. If, on the other hand, we use a deduction or a deduction, we make it known that that amount is no longer available to us and therefore does not have to be taxed.
In any case, if you want to take advantage of the tax benefit, the donation must be traceable, therefore the money must be transferred by bank, post office, bank or cashier's check, credit, debit or prepaid card.
Here are the main concessions to keep in mind.
1) INDIVIDUALS
1.1. Irpef deduction at 26%. The discount is provided for cash donations made to non-profit organizations and individuals who carry out humanitarian activities. The amount on which to apply the 26% reduction must not exceed 30 euros, for a maximum deduction of 7.800 euros.
1.2. Deduction from taxable income. According to article 14 of the Legislative Decree 14.3.2005, n. 35, "donations in cash or in kind disbursed by natural persons or entities subject to corporate income tax in favor of non-profit organizations of social utility", as well as "those disbursed in favor of social promotion associations registered in the national register ”, are “deductible from the total income of the paying subject within the limit of 10% of the total declared income, and in any case up to a maximum of 70 thousand euros per year”.
The calculation of the total declared income also includes the income from buildings subject to flat tax.
Furthermore, the deduction is allowed only if the beneficiary is obliged to keep "accounting records" and "a document that adequately represents the patrimonial, economic and financial situation".
2) COMPANIES
2.1 In addition to the deduction referred to in the previous point (envisaged both for natural persons and for businesses), companies are allowed to deduct from the IRES taxable income "the donations in cash for an amount not exceeding 30 thousand euros or 2% of the income company declared, in favor of non-profit organizations, as well as humanitarian, religious or secular initiatives, managed by foundations, associations, committees and bodies identified by decree of the Prime Minister", as stated in the Tuir (article 100, paragraph 2, letter h ).
2.2 Furthermore, article 27 of the Law 133 / 1999 provides for the deductibility from corporate income of cash donations "made in favor of populations affected by public disasters or other extraordinary events", if they are addressed to foundations, associations, committees and bodies, identified by decrees of the prefects of the respective provinces.
2.3 The same law 133 also establishes the deductibility of the cost of goods transferred free of charge on the occasion of public calamities or extraordinary events, always on condition that the beneficiaries are foundations, associations, committees or entities.
2.4 According to Legislative Decree 460 / 1997 (article 13, paragraph 2), foodstuffs and pharmaceutical products ("whose production or exchange the company's activity is aimed at") which are given free of charge to non-profit organizations are not considered for the purpose of calculating income company taxed with IRES or with Irpef. The same applies to non-luxury goods with defects or imperfections that do not allow them to be sold: in this case, however, there is a deductibility limit equal to the specific cost incurred for the production or purchase of the goods sold free of charge, which overall cannot exceed 5% of the declared business income. VAT is not paid on these transfers if the goods sold do not have a unit cost exceeding 50 euros. The 2016 Stability Law raised the limit on the cost of goods sold free of charge to 15 thousand euros, beyond which it is mandatory to send a communication to the Revenue Agency and the Guardia di Finanza.
2.5 Finally, "expenditure relating to the employment of employees, hired on permanent contracts, used for the provision of services provided in favor of a non-profit organization, within the limit of five per thousand of the total amount of expenses for work services, are deductible from the IRES taxable income". employee, as they result from the tax return". This provision is also reported in the Tuir (article 100, paragraph 2, letter i).
BONUS ART
Then there is something to remember the Art bonus, which consists of a personal income tax deduction equal to 65% of the amount of "liberal donations in support of culture", to be divided into three annual installments. However, there are maximum limits, equal to 15% of taxable income for natural persons and entities that do not carry out business activities and 5 per thousand of annual revenues for business income holders.
PAYROLL GIVING
Thanks to this tool, employees can donate the wages of an hour of their work with a payroll deduction. Payments can be made for 12 consecutive months. On all disbursements it is possible to take advantage of the deduction or deduction.
