Tax benefits for companies with donations

The Doctor Tanya Mavrodinova Foundation issues a document to all donors confirming the donation. This certificate entitles to a tax relief when filing the annual tax return.

The amount of the tax benefits depends on the status of the persons benefiting from the donation:

Ten percent - 10%

Companies can reduce up to 10% of their positive financial results by donating to health or medical institutions; specialized facilities for the provision of social services; specialized childcare facilities under the Child Protection Act and facilities for the education of children without parental care; kindergartens, schools, colleges or academies.

You can also lower your tax if you donate to household companies, registered religious communities, specialized companies or cooperatives for people with disabilities, as well as to the Agency for Persons with Disabilities; for the Bulgarian Red Cross; Cultural institutions, libraries and cultural, educational or scientific exchanges under an international agreement in which the Republic of Bulgaria participates; for non-profit legal entities registered in the Central Register of Charitable Legal Entities for the purpose of charitable activities. The tax allowance may also be used to donate to communities for the treatment of drug addicts and to the United Nations Children's Fund (UNICEF).

As a charitable organization, Doctor Tanya Mavrodinova Foundation receives tax-efficient donations from Bulgarian citizens and businesses.

Unlike individuals, entrepreneurs can also receive a 10% tax credit on donations to individuals - children and adults with disabilities, children without parents, socially disadvantaged people, and people with disasters. Tax benefits are also available for scholarships for pupils and students in an EU country or European Economic Area.

Fifteen percent- 15%

You can reduce your tax base to 15 percent if you make a donation to the culture.

Fifty percent - 50%

You can reduce your tax base to 50% if your donation goes to the Children's Aid Center, the Assisted Reproduction Center, and the Transplant Center.

Other

The cost of donating new computers and peripherals to Bulgarian schools and universities (which are also produced for up to one year until the date of the donation) also reduces the tax base.

Limitations

It is important to note that the total amount of donations donated may not exceed 65% of the accounting profit and the manager of the company should not benefit directly or indirectly from the donation.

More possibilities

Another interesting moment is the possibility to use Bulgarian tax donations for donations to organizations and citizens in another EU country or in the European Economic Area, if these are similar to the preference circle of the Bulgarian recipients of donations. The donor must receive from a competent authority an official document on the status of the donor, which is translated into the Bulgarian language by a sworn translator.

For more information, please visit the website of the National Revenue Agency:
www.nap.bg