Donations to reduce taxes
There are also donations for tax cuts, this means that through donations people can reduce their taxes on large amounts of money.
Other
Institutions dedicated to cultural preservation, and museums, libraries and zoos, often receive donations of material relating to their areas of interest. For example, a museum of history can receive donated a document belonging to the former living descendants of a historical character. Similarly, public libraries receive book donations from publishers, embassies and individuals.
Taxation
Donations of funds or property are governed by the Inheritance and Gift Tax. Your tax depends on the amount of the asset donated because they are taxed at a flat rate but apply some scales depending on the amount and whether it is the general case, acquisitions of bare ownership or accumulation of donations. We will settle the tax within 30 working days after the event.
