While more and more people understand that supporting others is worth their time and effort, hardly anyone knows what measurable tax benefits it can bring to the donors themselves. This is why Calculator for Philanthropists (https://ceeimpact.org/calculator/) was created – the first online tool of this kind in the Visegrad Group countries. With just four clicks, it calculates the amount that we can donate to receive the maximum tax relief. What’s worth mentioning, the refunded money can be used for further help in the next year.
Differences in terms of tax breaks for philanthropists
Legislation in the field of philanthropy is quite complex because taxpayers do not deduct donations from the tax but from the tax base and there are limits to it. Deductions vary depending on the causes (Poland), organizations (Hungary) or the amounts donated (Czech Rep.). There are significant differences between countries of the Visegrad Group in terms of tax breaks for philanthropists. Magdalena Sławińska-Rzemek, Tax advisor of V4 Group, wrote about it in our blog: https://ceeimpact.org/pl/2019/09/27/philanthropy-and-the-tax-issues/.
You can choose your language and check Q&A for more information
The calculator is available in English and in local languages. It operates under Polish, Czech, Slovak and Hungarian law. It can be used by individuals, businesses or even tax advisors. The Q&A section will appear in the calculator after choosing country and language as it is adopted to the legislation of an individual country. It will help you answer the most burning questions on philanthropic spendings: what materials are required to document a donation, who can receive donations or what can be donated etc.
Launch during Global Goals Week 2019
The Calculator for philanthropists was among the initiatives presented at the international event Global Goals Week 2019 # ACT4SDGs. For more information visit https://act4sdgs.org/partner/Alliance_for_CEE.
The calculator provides real support to philanthropists
At Social Impact Alliance for Central & Eastern Europe we believe that philanthropists deserve to be supported because they are the ones who care, who want to make a difference. Through wise donations, they can make a real difference. Social problems are complex and require the commitment of all of us – with our time, skills, and money.