Connect with us

Hi, what are you looking for?

Trending news

Ukraine aid: Company donations 100 percent deductible

>

Fundraising Verband Austria welcomes tax relief for companies for more donation commitment in acute emergencies.

Vienna (OTS) – The need for help in the Ukraine war is still immense. What many people do not know is that there is a tax advantage for businesses that donate to Ukraine. While companies can generally claim 10 percent of their revenues as tax-reducing donations, a special rule applies to relief efforts in favor of acute disaster situations. They can be set off to 100 per cent as operating expenditure – that clarified the Ministry of Finance recently. The Fundraising federation Austria – umbrella organization of the donation organizations – welcomes this exception, which rewards more non-profit commitment with more tax relief during disasters, like the Ukraine war.

Flood disasters, avalanches, earthquakes, explosions, warlike events, terrorist attacks or other humanitarian disasters, such as epidemics or famines – donation causes with an immediate need for support are classified by the BMF as disasters. This gives entrepreneurs in Austria the opportunity to exceptionally write off such assistance in full or in the amount of their entire profit as a business expense. For donations away from acute catastrophes, the 10 percent limit of the operating profit is the maximum. For Günther Lutschinger, Managing Director of Fundraising Verband Austria, this is a major incentive for Austrian companies to donate to the Ukraine relief effort now: “Countless donation organizations, also from Austria, have been in continuous operation in Ukraine for months to provide aid to war victims. The fact that companies that support this aid with a donation receive a tax advantage is a strong signal of the great importance of social commitment.”
The only legal prerequisite for the unlimited deductibility of the disaster donation is that it is accompanied by an advertising effect on the company side. “In this regard, however, the legislator does not impose any special requirements. For the one hundred percent deductibility of the aid as an advertising measure, it is sufficient to refer to the disaster commitment on the company website,” Lutschinger knows.
[All legal information on this]
(https://www.ots.at/redirect/findok1)

Dr. Andreas anchor, press Fundraising federation, T: 0676/4214706, E: [email protected]

OTS-ORIGINALTEXT PRESS RELEASE UNDER EXCLUSIVE CONTENT RESPONSIBILITY OF THE SENDER. www.ots.at
© Copyright APA-OTS Originaltext-Service GmbH and the respective sender

The post Ukraine aid: company donations 100 percent deductible appeared first on TOP News Austria – News from Austria and around the world.

Advertisement

You May Also Like

Health

BongaCams, the world’s most popular webcam site, has issued its first exclusive collection of NFTs!  The collection celebrates BongaCams’ 10th birthday coming up in...

Politics

Despite all the progress, prejudices and stereotypes are still strong in society. People often judge a person by his or her appearance, and if...

Politics

As a businessman, I am constantly in contact with friends and colleagues from across Europe. Business, of course, is global and economic integration is...

Trending news

Curb the attack! is the title of Brussels Ukraїna Review’s special issue about the threat of a full invasion of Ukraine by Russia. The...