Tax Breaks
Legal entities can benefit from the following tax breaks:
(A) Deductibility from the taxable business income to a maximum ceiling of 2% for money donations in support of Bodies and/or Institutions working in the show business (art. 100 paragraph 2 letter g T.U.I.R.). If the deposit is made upon the capital, this 2% ceiling is increased up to 30% (art. 25 DL 29 June 1996, n. 367, as stated in art. 3 paragraph 5 of Law 26 January 2001, n.6)
(B) Deductibility from the business income for the whole amount of donations made according to art. 100 paragraph 2 letter m of T.U.I.R. (as stated in art. 38 of Law 342/2000) starting from the tax period ongoing on the 31 December 2001: " (...) donations in support of (...) are completely deductable, Foundations (...) legally recognized, for the accomplishment of their institutional tasks and for the realization of cultural programmes in the cultural good and show business sectors".
Natural persons can benefit from deductibility of 19% of money donations, for a sum not higher than 2% of the total declared income, made in support of Bodies and/or Institutions working in the show business (art. 15, paragraph 1 letter i T.U.I.R.).
For further information:
Administration and Control Office
Tel.
Email migliorini@fondazionelascala.it
