Do you do charity work? In the Netherlands, there are more than 35 thousand ANBI (algemeen nut beogende instelling) charities that annually sponsor socially important projects worth hundreds of millions of euros. This status defines a foundation or organization whose activities are fully focused on a topic of importance to society. Think of KiKa, whose activists raise money for cancer research in children. ANBI status can also be assigned to small foundations if they prove that their activities are charitable.
What is this status for? It allows sponsors of charitable organizations to deduct contributions to such funds from income (for individuals) or profits (for companies), and thus reduce the tax base.
ANBI funds are often exempt from filing tax returns, but they are required to publish an annual report on their activities and performance on new forms developed by the tax office. From January 1, this norm is mandatory for large charitable foundations. That is, for those who have made a profit of over 50 thousand euros per year, or who have not made a profit, but spent more than 100 thousand per year. Small foundations are not required to publish reports on forms. But we recommend that they do it all the same in order to avoid mistakes in the publication.
If you decide to open your own fund, obtain ANBI status for an existing one, or have any questions about its reporting, we are always happy to help you.
And remember that charity is not only about "saving on taxes", it is also an opportunity to support a project that is important to you, and which may not take place without you. In order for you to know exactly where your contributions are directed, we advise you to check the ANBI status of the funds you are funding at official register
And here you can read about tax deductions for charity
Publication Date: 09.04.2021
