Thursday , April 22 2021

Donate part of your Income Tax – 19/11/2018 – Marcia Dessen

We do not always agree with the destination of the taxes we pay, right? Would not it be great if we could indicate the destination of at least part of the tax that goes out of our pocket? Know that it is possible, it is not much, but the gesture has enormous meaning, for the donor and for the recipient.

Up to 8% of the IR (Income Tax) we will pay in 2019, referring to calendar year 2018, can be donated to accredited care institutions. Give a little
but worth it.

To materialize this tax incentive, it is necessary to use the complete model of the IR declaration, the form that allows several legal deductions.

Donations can be made by the end of this year, or next year, in the Income Tax return. The institutions authorized to receive the donations change, and the limits also, due to the choice.
Let's get down to the details.

To whom to donate

1. Child and Adolescent Support Funds (Funcad);

2. Funds for the Elderly Care;

3. Incentive to Culture (National Fund for Culture) or direct support to projects and social actions registered in the National Program of Support to Culture;

4. Encouragement of the Audiovisual Activity (sponsorship and investment in accredited cinematographic projects
by Ancine);

5. Sports Incentive (donations or sponsorships in the direct support to sports and sports projects previously approved by the Ministry
of Sport);

6. Incentive to the National Program of Support for the Health Care of
Deficiency (Pronas-PCD);

7. Incentive to the National Program of Assistance to Attention
Oncological (Pronon).


The sum of the deductions listed in items 1 to 5 is limited to 6% of the tax due. Each of the deductions listed in items 6 and 7 is limited to 1% of the tax due. Therefore, in total, it is allowed to deduct up to 8% of the tax due
with donations, provided they respect the above limits.

Until December

Those who have the resources to donate by the end of this year can donate more – up to 8% of the tax – and also choose who and how much to donate, subject to the limits informed.

To estimate the amount of tax due, we can use the draft IR statement, available on the IRS website. In the absence of the draft, checking the average tax paid in recent years also allows an estimate
close to reality.

In the statement

Donations to Child and Adolescent Support Funds may be made directly in the declaration, up to a limit of 3% of the tax due, provided, in addition to donations from items 1 to 5 above,
do not exceed the limit of 6% of the tax due.

Donations should be identified by depositing the entity's current account with the donor's CPF number. Keep the donation receipt with the order number, your CPF, the date of the donation, the amount donated and the calendar year
to which the donation refers.

After payment (until 12/29), the beneficiary will issue and send the proof of tax waiver. The reimbursement of the sponsorship will come in the following year in the form of restitution or reduction of the amount of the IR to be paid.

Be sure to donate even if you have a refund. If in the final calculation of the numbers of your declaration there is refund, the value for the incentive donations will be added
to the value of your return.

Donate is good, donate too.

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