Physical persons can choose whether to deduct or not the total amount of donations to La Formica. Alternatively – according to what is more convenient for you, in terms of tax benefits as a physical person – you may decide to:
- Deduct from your tax declaration the donations (“charitable gifts in money and in kind”) to non-profit organisations not exceeding 10% of the total declared income and, however, up to € 70,000 per year;
Ref: Art. 15. item 1, let. i-bis) Presidential Decree 917/86 amended by Decree Law No. 35/05 converted in Law No. 80/05
- Deduct from gross income tax an amount of 19% of total cash donations to non-profit organisations of an amount not exceeding € 2,065.83.