Businesses and corporations, or more generally, all entities that are subject to the corporate income tax – IRES (among them are: joint stock companies and companies limited by shares; limited liability companies; cooperative societies; mutual insurance companies residing in the territory of the State) may alternatively choose whether:
- To deduct from the tax declaration the donations to La Formica no exceeding the 10% of the total declared income, however, to a maximum of €70,000 per year;
Ref: Art. 14 Legislative Decree No. 35/05 converted into Law No. 80/05
- To deduct from the tax declaration the donations to La Formica for an amount not exceeding € 2,065.38 or the 2% of the company’s declared income.
Ref: Art. 100, item 2, let. H) Presidential Decree No. 917/86 of the Income Tax Act.