Donations granted for the medical treatment of children and cultural institutions might reduce taxes up to 50%

The income tax base of physical persons might be reduced up to 50%, if they grant a donation to the benefit of the Bulgarian Assisted Reproduction Fund, the Fund for the Treatment of Children, аs well as to the Transplantation Fund Centre, announced yesterday the National Revenue Agency (NRA). Another tax relief, which Bulgarian citizens may take advantage of, is the case of making a donation for cultural institutions and organisations. Besides, the income tax base of physical entities may be decreased by up to 15% as a result of the funds donated for cultural activities, while their total taxable earnings may be reduced up to 5% due to granting donations to healthcare or medical institutions, as well as specialised institutions providing social services along with making donations to the Bulgarian Social Assistance Agency and Social Protection Fund, which are under the umbrella of the Ministry of Labour and Social Policy, added NRA. The tax abatement is also effective in case of granting a donation to the benefit of specialised institutions for children, as well as to homes for bringing up and educating children deprived of parental care along with nurseries, kindergartens, schools, universities and academies. Besides, physical persons can take advantage of the contraction of their liabilities to the state Treasury in case of donations to the benefit of budget enterprises and registered religious communities in Bulgaria, specialised companies or associations of people with disabilities, as well as to the Bulgarian Agency for Persons with Disabilities, the Bulgarian Red Cross BRC and cultural institutes and cultural clubs. Bulgarian citizens can reduce their income tax base even when granting donations to non-profit legal entities, registered in the Central Register of Not-for-Profit Legal Entities for Pursuit of Public-Benefit Activities, as well as when making donations to the Bulgarian Energy Efficiency Fund. Tax abatements can be also granted in case of a donation to the benefit of therapeutic communities for treatment of drug abuse and addiction, and also in favour of the United Nations Children's Fund (UNICEF). Income tax relief can be also earned in case of donations granted to the benefit of the identical entities from the EU.

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