Legal
Transparency
IMPACT Foundation underlines its commitment to the highest standards of transparency and good governance in all aspects related to its internal management and that of its projects and activities. In order to ensure the trust of our partners, donors, collaborators and society in general, we are committed to operating with maximum transparency, providing access to information on a continuous and accessible basis.
In this sense, at the IMPACT Foundation we provide the general public with all the relevant documentation about our values, aims and objectives, our organisational structure, ongoing and future projects, the destination of funds, and the management policies governing our activities.
Tax benefits for donations to foundations
Spanish Law 49/2002 of 23 December on the Tax System of Non-Profit Organisations and Tax Incentives for Patronage recognises certain tax benefits for donations or contributions to foundations.
For example, individual donors benefit from a reduction in total income tax due, based on the deduction of all donations and contributions eligible for deduction:
| Deduction allowance Amount up to | % Deduction | |
| First €250 | 80% | |
| Remaining | Non-recurring | 40% |
| Recurring | 45% | |
A donation/contribution will be considered recurring if the taxpayer has made donations eligible for deduction to the same organisation in the previous two years and provided that the amount of the donation is equal to or greater than, in each of them, the contribution in the immediately preceding year.
The deduction allowance for donations in terms of personal income tax may not exceed 10% of the taxpayer’s net tax base.
If the donation or contribution is made by a company, there is a counterpart deduction in company tax that allows for the deduction of 40% of the deduction allowance in the total tax due. Likewise, if it is a recurring donation, 50% of the donation made to the same organisation will be deductible.
There is also a limit to the deduction allowance which, in this case, is 15% of the gross company tax in the same period. The deduction may be applied to donations exceeding this limit in tax periods concluding in the ten years immediately following the contribution and thereafter.
If you have any questions or need some further information, please feel free to contact us via the following email: madrid@zadal.es Our team will be happy to assist you and will respond to your enquiry as quickly as possible.