Tax Benefits

Since November 2019, the Valter Longo Foundation has been registered in the Single Registry of the O.N.L.U.S. subject to authorization by the competent Revenue Agency pursuant to Legislative Decree December 4^th, 1997 n. 460. If you support the Valter Longo Foundation Onlus, Italian tax authorities recognize your commitment by allowing you to deduct your donations in your tax return.

Useful information: Tax credit lowers tax bill directly by reducing the amount of tax owed, in order to pay less. Tax deductions reduce how much of your income is subject to taxes. The liberal disbursements allow you to have a series of tax advantages that we distinguish according to whether the donor is an individual or business entity.

 
PRIVATE PERSON: Art. 83 of Legislative Decree 117/2017

• Cash Donations:
  • It is possible to deduct from the gross income tax (personal income tax) an amount equal to 30% of the liberal cash or in-kind donations or within the annual limit of 30,000 Euros;
  • Deduct the donation from the total income within the 10% limit of the total declared income.
• In-kind Donations: It is possible to donate any type of property, provided that the beneficiaries are Third Sector Bodies. In the current transitional period, the beneficiaries can only be NGOS, Voluntary Organizations, and Social Promotion Associations. The enhancement of the assets subject to donation for the purposes of tax deduction/tax credit is governed by art. 3 and 4 of the D.M. November 28, 2019.

Conditions for the applicability of the facilities.

• Cash donations must be made with traceable instruments e.g. through banks or post offices;
• In-kind donations under art. 4 of the Ministerial Decree November 28, 2019: the donor will issue his declaration containing the analytical list of the goods subject to free transfer and the relative value, possibly attaching the appraisal report (the appraisal is provided for in the cases referred to in paragraphs 2.3 and 4 of art .3 of the Ministerial Decree of 28 November 2019);
• The donor/beneficiary of the donation, on the other hand, must issue its own declaration or receipt of commitment to use what has been received as a donation for the performance of its institutional activity, for the exclusive purpose pursuit of civic, solidarity, and social utility purposes.

IMPORTANT! Other provisions subject to the operation of the National Single Registry (NSR) and the Council of the Third Sector.

 
Tax breaks related to non-profit organizations contained in the Consolidated Income Tax Act: Art. 15 co 1.1 allow individuals who support the non-profit organization to deduct 26% in relation to liberal cash disbursements, for an amount not exceeding 30,000 Euros per year until the National Single Registry (NSR) operates.

If you are not sure which solution is best for you, contact your trusted consultant or your government office for tax assistance and information. We remind you that the office or your accountant may request a certification attesting the official nature of these donations, stubs of postal slips or copies of bank statements or credit cards.
 
Tax breaks cannot be combined with each other. Cash donations are not part of any facility.
 
For more information email [email protected] or call +39 02 2513 8307.