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Tax Credits for Donations
From 1.01.2012 tax credits will be attainable for individuals donating money to endowment funds.
Federal Law ¹ 235-FZ from 18.07.2011 On the Introduction of Changes to the Second Part of the Tax Code of the Russian Federation, in the section on tax liabilities of non-profit organisations and charitable activities.
The law will broaden the rights of individuals donating money to endowment funds of non-profit organisations to receive social tax deductions from income tax (to the amount of the donation but not exceeding 25 per cent of the income received during the tax period and subject to tax credits).
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