Good news on income tax assessment

16 March 2015

Taxes are not a pleasant matter, but we can give good news on this issue today: donations to Fragas do Mandeo will get more deductions this year. They may even double!

Logo of the Agencia Tributaria (Spanish Tax Agency) Reform of the tax incentives to patronage, effective January 1st thanks to the enactment of the Ley 27/2014, de 27 de noviembre, del impuesto sobre sociedades. Despite its name, it also affects individual income tax (IRPF).

Thus, donations received from individuals during this year will have a deduction of 50% of the first 150 euros. This means that most of our donors will automatically be rebated half the sum they donated in 2015 when they submit next year’s income tax assessment.

If the donated sum is higher than 150 euros, the remaining amount will have a deduction of 27.5%. But if you have donated the two previous years the same or increasing amounts over time, it will be 32.5%.

As for companies and entities that have to declare corporate income tax, the deduction remains 35% in general, but it increases to 37.5% if it is the third consecutive year in donating the same or higher amount.

However, the good news does not end here, since the percentages will be even better next year.

Less and less excuses not to be a donor!

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