Did you know that it is possible to encourage social and cultural projects based on the Income Tax Declaration? The donation aims to benefit, in a legal and safe way, projects that work with children, adolescents and the elderly in cultural activities, audiovisual projects and sports incentives.
As the amount is deducted from the tax owed by the taxpayer, the allocation has no cost for the declarant and can be carried out by both individuals and companies, including in the annual declaration itself. It is worth noting the importance of requesting a receipt for the donation, which must be issued in favor of the declarant.
According to the Federal Revenue Service, this year the income tax’s social allocation potential will be around R$ 9 billion.
The body, which organizes the campaign that this year is called “I Am Citizen Solidarity”, informs that individuals can allocate up to 6% of their tax due or a total of 7%, if sports projects are included in the donations .
In order to donate, either during the course of the year or at the time of filing the Income Tax return, the taxpayer must complete the declaration in the complete regime, since it is not possible to make this type of tax allocation in the simplified regime.
It is important to know that when it comes to donations for cultural projects, the allocation is made based on the Rouanet Law, aiming to benefit projects approved by the Ministry of Culture.
Audiovisual projects that receive funding must have been approved by the National Film Agency (Ancine), based on the Audiovisual Development Law, and sports incentive projects must have been previously approved by the Ministry of Citizenship.
Editing: Rodrigo Durão Coelho
