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The latest Law Decree launched by the Government to deal with the COVID-19 epidemic contains important measures in support of Public Bodies and Non-Profit Organizations that have in place interventions in the field of containment and emergency management, and which are very important for the purpose of your fundraising.
Article. 63 of the Decree provides, for natural persons and non-commercial entities, a deduction from the gross tax for the purposes of income tax equal to 30%, for an amount not exceeding 30,000 euros for liberal cash payments, made in in favor of the State, Regions, local territorial bodies, public bodies or institutions, foundations and legally recognized non-profit associations, aimed at financing interventions in the field of containment and management of the epidemiological emergency.
For donations made by commercial entities, the deductibility of the entire amount from business income is envisaged, in accordance with the provisions of Law 27 of 13 May 1999, n. 133. (Provisions for populations affected by public disasters).
We also inform you that the deadline for the adaptation to the new discipline of the Third Sector code has been extended to 31/10/2020.
LIBERAL DONATIONS TO SOCIAL PROMOTION ASSOCIATION
Thanks to art. 22 of Law 383/2000, tax deductibility was introduced for "liberal payments" in favor of associations for social promotion, subsequently expanded with DL 14/03/2005 n. 35 converted by Law 14/05/2005 n. 80 - art. 14 published in G.U. n. 111 of 14/05/2005 applicable only to associations registered in the National Register:
• up to € 2,065.83 per year (Lire 4 million) for contributions paid by natural persons deductible from Irpef for 19% of the amount of the liberal grant, and up to € 1,539.47 per year (Lire 3 million) o 2% of the declared business income, for contributions paid by IRES subjects, if the association is registered in the National or Regional Registers (art. 22 Law 383/2000).
• up to € 70,000.00 per year deductible from the taxable amount with the maximum limit of 10% of the taxable income for contributions paid both by natural persons subject to personal income tax and by entities, companies or associations subject to IRES, applicable only if the association it is registered in the National Register (art.14 Law 80/2005).
• The subjects falling under both cases the cases (disbursements to social promotion associations registered in the National Register), can choose whether to apply the benefits of art. 22 of Law 383/200 or alternatively the facilities referred to in art. 14 of Law 80/2005.
• To be tax deductible, the Liberal Payments in favor of the Social Promotion Associations:
a) must be made exclusively by check or bank transfer, or by payment to the c.c. post office of the pro loco, or with other type of payment that can be traced and documented (e.g. credit card). If the payment is made in cash, it cannot be deducted.
b) a special receipt (or certificate) must be issued to the donor, on which also the details to identify the lender subject for tax purposes must be indicated. A copy of the receipt issued must be kept by the Association for at least three years (paragraph 2 art. 4 Law 383/2000).
• If the amount disbursed exceeds 77.47 euros, a stamp duty of 1.81 euros must be applied to the receipt.
• Copies of issued receipts, numbered consecutively at year level, must be kept for at least three years. It is also good to keep and enclose the collection documentation with the receipt.
• The amounts of the donations received are included in the institutional income, like the membership fees, for which they are excluded from the taxable income