On January 1, 2024, the tax deductions for donations received on or after that date change:
-It affects the deductions that each donor would make in personal income tax or corporate income tax:
Personal Income Tax
Deduction of the quota
· The deduction base and percentages are raised:
Deduction base 250€ Percentage: 80%
Remainder Deduction Base Percentage: 40%
· If in the two immediately preceding tax periods donations, donations or contributions have been made in favour of the same entity, the amount of the donation, donation or contribution for this year and that of the previous tax period being equal to or greater, in each of them, than that of the immediately preceding year, the percentage of deduction applicable to the base of the deduction in favour of the same entity that exceeds €250, It will be 45 per cent (previously 40 per cent).
Corporate Income Tax
Deduction in the quota
· The percentage of the deduction is increased from 35 to 40 percent.
· If in the two immediately preceding tax periods, donations, donations or contributions with the right to deduction have been made in favour of the same entity, the amount of the donation, donation or contribution of this tax period and that of the previous tax period, being equal to or greater, in each of them, than that of the immediately preceding tax period, The percentage of deduction applicable to the deduction base in favour of the same entity will be 50 per cent (previously 40 per cent).
· The limit that operates on the taxable base for the period is increased by 5 percentage points, from 10 to 15 per cent, for the purposes of determining the basis of the deduction.