Tax Deduction for Charitable Donations: Who Qualifies and What You Get
Learn how to reduce your tax burden by donating to registered non-profit organizations in Italy.
This scheme allows individuals to reduce their tax burden by making financial contributions to registered non-profit organizations.
Who it's for
This is for investors who make donations to registered non-profit organizations, also known as the Third Sector (Terzo Settore).
What you get
Depending on the specific type of organization you support, you can receive a deduction from your gross income or a tax credit to lower your overall tax liability.
What it costs you
To qualify, you cannot use cash. You must use traceable payment methods, such as a bank transfer or a credit/debit card, to ensure there is a clear record of the transaction.
The catch to know
The most important thing to remember is that cash donations are not tax-deductible. If you do not have a digital or banking record of the gift, you cannot claim the deduction.
How to apply
- Choose a registered non-profit organization.
- Make your donation using a traceable method like a bank transfer or card.
- Keep your receipt or proof of payment for your records.
- Report the donation in your annual tax filings.