Tax advantages
Thanks to the 2003 law 709 concerning donations and patronage passed on August 1, 2003, donators will benefit from tax advantages if they decide to give to the foundation.
For companies
A tax reduction of 60% on the sum donated within a limit of 0.5% of total turnover. For example, if 20,000€ is donated, in reality the sumpaid is 8000€.
In the case of fiscal deficit, the credit may be carried forward 5 years. In the case of exceeding the limit, the balance may be carried over the 5 years following the donation.
For individuals
Donators benefit from a tax reduction of 66% on the sum donated within a limit of 20% of total taxable income. For example, if 1000€ is donated, in reality, the sumpaid is 340€.
The 2007 law 1223 concerning employment and buying power passed on August 21, 2007, allows tax-payers to deduct, if so required, their personal fortune solidarity tax (ISF) to a level equal to 75% of their donation, within a limit of 50,000€. A donation of 1000€ therefore costs, in reality, just 250€. The most effective donation in terms of a reduction in taxes is one of 66,666€.
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