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/ TAX EFFICIENT GIVING
Profitable fiscal advantages to support IAS UN
The Institute for Advanced Studies on the United Nations, in the scope of its development process, has launched its own endowment fund. Recently created by laws on economics modernization, the Institute ‘s fund benefits from a wide legal capacity as it can receive and manage rights and possessions of all kinds that are brought in a free and irrevocable manner.
The endowment fund can receive freely any form of liberality:
- manual donations
- Donations (free acts for concluded between lively, in the authentic shape, that is in front of solicitor)
- Legacies.
Fiscal advantages are the following:
Cash
The amounts given by a citizen are deductible from the donor’s revenue tax up to 66% of their amount and in the limit of 20% of the taxed revenue. If the amount goes beyond the limit, the excess can be reported on the five next years. For companies, possible deduction is up to 60% in the limit of 5/1000 of the turnover. Besides, since June 20 2007, tax payers have the possibility of imputing on the amount of the ISF 75 % of the amount of the donations made, the fiscal advantage which can not exceed 50 000€ (maximal 66 666€ donation). There cannot be accumulation of both fiscal advantages there (IRPP, ISF) on the same sum.
Securities
A physical person can pass on in the endowment fund of IASUN transferable securities in the form of manual donation or donation by notarial act. These donations are deductible according to the same conditions as the cash donations (66 %).
Usufruct
The temporary transmission of usufruct allows the donor not to be taxable any more in the ISF during the duration of the donation on these possessions the only bare ownership of which he kept but he will not benefit from the 66 % reduction on the incomes of this capital. This transmission must be made by notarial act for a minimal duration of 3 years and concern assets the projected return on which is substantial.
Donations and legacies
The donations and the legacies granted on the endowment fund are exempted from transfer tax free of subsidy according to the conditions fixed in g of 1 of the article 200 of the general Code of the taxes.
Important : This exemption is thus wider than that applying to the state-approved foundations; indeed, only certain of them benefit from a total exemption from transfer tax for free (those whose resources are exclusively allocated to scientific, cultural or artistic works, to assistance organisms, in the protection of natural environment or in the protection of animals; those having for object the support for university and school works of educationregularly declared).
Those not beneficiating from this exemption benefit from the rights applicable among brothers and sisters (i-e 35% on the fraction of the transmit values not exceeding 23 299 euros and 45% above). The exemption applicable to endowment fund is much larger.