IRS - Contribute Free of Charge!
Did you know that you can show solidarity at no cost? In fact, with the IRS consignment, you can donate 0.5% of your tax to a charitable organisation, helping those who need it most. This gesture, which represents no extra expense for you, can make a big difference to the lives of many people. So in this article we'll explain how you can contribute, which organisations you can support and how the process works.
What is IRS Consignment?
The IRS consignment allows 0.5% of the tax paid, which would normally go to the state, to be donated to a public benefit organisation. This donation is possible thanks to Article 152(1) of the Personal Income Tax Code (CIRS). Therefore, by opting for consignment, you are redirecting part of your tax to a social cause, at no extra cost to you.
How to Consign IRS?
The process is simple and can be done in two ways. Firstly, you can access the Finance Portal and indicate the institution you wish to support by 31 March. But this deadline has already passed. If you don't do it by this date, you can still make a contribution when you fill in your tax return, between 1 April and 30 June. This way, you have several opportunities to ensure that your contribution reaches those who need it most.
Choose the Institution to Support
As you know, there are several institutions that can benefit from the IRS consignment. Thus, you can choose between private social solidarity institutions, legal persons of public utility, cultural institutions with public utility status, environmental organisations and religious institutions. In order to make your choice easier, the Tax and Customs Authority (AT) makes a list of all the eligible organisations available every year on the Finance Portal.
Get to know some of the eligible institutions
Among the many organisations you can support, some stand out for their significant social contribution. In fact, you can find the full list of eligible organisations on the Finance Portal. These organisations benefit directly from the amount earmarked, using it to fund projects that have a positive social impact on the community.
What about VAT consignment?
In addition to the IRS, you can also consign the value of your VAT deduction. However, unlike the IRS, consigning VAT is a cost to you, as you will no longer receive a refund corresponding to the 15% of VAT paid on invoices from car garages, restaurants, accommodation, hairdressers, beauty parlours and vets, as well as the 100% of VAT paid on invoices for social passes. Even so, this is an excellent opportunity to support important causes.
Contribute Free of Charge and Make a Difference
In conclusion, by consigning your IRS, you are supporting institutions that provide a valuable service to society. This simple, cost-free gesture can change lives. So when you're filling in your tax return, don't forget to consign. Remember that your help is crucial to the functioning of many charitable organisations.
For more information and to ensure that the process is carried out correctly, we recommend that you consult Serro & Andrade. With our experience and knowledge, we will be able to guide you and clarify all your doubts, ensuring that your contribution reaches those who really need it.
Contribute free of charge, make a difference and help build a more supportive society!
