November 28, 2021

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FS has sent more than 68 million euros in taxes paid to the third sector

FS has sent more than 68 million euros in taxes paid to the third sector

Bratislava, October 28 (TASR) – The Financial Department (FS) has already transferred more than 68 million euros to the accounts of non-profit organizations, foundations and civic associations. That’s about 15 million more than last year. Currently, the FS has processed approximately 850,000 returns of the remittance of the share of income tax paid for the year 2020. On Thursday, the FS reported this.

“More than 850,000 account statements have been processed so far. Non-profit organizations, foundations and civic associations have so far received a total of more than 68 million euros,” FS spokeswoman Martina Rybanska said. Taxpayers transferred about 15 million euros more in their taxes than last year, when they donated a share of the taxes paid to 851,355 taxpayers, who transferred 53.39 million euros to the beneficiaries. So far, the record could not be broken before the 2019 pandemic, when the Finance Department processed 922,086 statements. Then the third sector received a total funding of more than 73 million euros.

A citizen or self-employed person who has filed a tax return for personal income tax for the year 2020 has the right to declare in the tax return that the share of the tax paid up to 2% must be transferred to the organization that he specified. He could also pay three percent if he volunteered for at least 40 hours in 2020. In such a case, he was also obligated to provide written confirmation attached to his tax return. An individual can donate 2% (3%) to only one recipient, paying a share of the tax of at least three euros.

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A legal entity that has filed a corporate income tax return for the year 2020 has the right to declare in the tax return that the share of the tax paid must be transferred to the designated recipient up to one percent of the tax paid. If the requirement to donate 0.5% of the tax paid no later than the deadline for filing the 2020 tax return is met to designated taxpayers who are not incorporated or incorporated for business, for the purpose of the public benefit specified in the Income Tax Law, the legal entity can through the tax return Transfer the share of tax paid up to 2%. Legal entities can also pay 1% (2%) to several beneficiaries, and the minimum amount in favor of one beneficiary is eight euros.