Tax Relief for Flood Victims' Donations from September 2024
This bill introduces the possibility of deducting donations made to help victims of floods and heavy rainfall in September 2024 from income tax. Individuals and companies supporting disaster victims will be able to deduct 200% of the donation's value from their tax base, encouraging more aid.
Key points
Ability to deduct donations for September 2024 flood victims from income tax (PIT and CIT).
200% of the donation's value can be deducted, offering double tax benefit for donors.
Donations must be made during the state of natural disaster or within 30 days after its repeal.
Donations must go to public benefit organizations, local governments, medical facilities, Government Strategic Reserves Agency, or social welfare institutions (e.g., homeless shelters).
A written donation agreement is required, confirming the funds' use for flood relief.
Provisions apply to donations made from September 12, 2024.
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Additional Information
Print number: 10_698
Process start date: 2024-10-08