With the view of reducing the tax burden on recipients of charity aid from organizations the MP Lev Mirimsky developed and submitted to the Verkhovna Rada draft law № 2177a, reports YURLIHA.
The project suggests supplementing Article. 170.7.2. of the Tax Code and determining additional cases in which taxable income does not include target or non-targeted charity to the taxpayer impacted by:
- other incidents of social and domestic nature that caused unemployment, temporary incapacity (including caring for a sick child), loss of breadwinner (death), disability;
- when providing assistance during pregnancy and childbirth, at birth or when caring for children under the age of three, assistance in recreational activities, compensation for moral and material damages, in existence of damage inflicted upon the victim.
This will be possible on condition that such assistance is provided by a charitable organization in the register of non-profit organizations and institutions once during a reporting fiscal year in the aggregate amount not exceeding 2000 tax-free minimum personal incomes.
These changes are due to the necessity to encourage charitable organizations to carry out their functions in case of failure or absence of funds for charitable assistance from the state or local budget.
