Tax reliefs
The Talento all’Opera Foundation is a third-sector philanthropic entity that registered with the Single National Register of the Third Sector (RUNTS) in May 2024.
The law provides for important tax benefits for those who choose to support a third sector entity (ETS). These entities exclusively pursue, on a non-profit basis, civic, solidarity-related and socially useful purposes by performing activities of general interest. This is the mechanism of fiscal subsidiarity: every amount of money donated to Il Talento all’Opera turns into a contribution for the growth of the community we all live in.
| Type of activity supported | Tax benefit for legal entities |
| Expansion or enhancement of educational, research and third mission activities |
Article 83(2), Third Sector Code. Donations in cash or in kind given to non-commercial Third Sector entities are deductible to the extent of 10 percent of total declared income, without limit. Should the deduction exceed the total declared income, minus all deductions, the excess amount may be considered an increase in the amount deductible from the total income of subsequent tax periods, but not beyond the fourth, up to the amount. |
| Recovery of public real estate, either disused or confiscated from the mafia |
Article 81(1), Third Sector Code (so-called Social bonus). Tax credit equivalent to 50 percent of liberal cash disbursements made by legal persons, up to the limit of 5 per thousand of annual revenues. The tax credit is divided into three equal annual instalments. For persons with business income, without prejudice to the division into three annual instalments of equal amount, the tax credit referred to in paragraphs 1 and 2 may be used by offsetting pursuant to Article 17 of Legislative Decree No. 241 of July 9, 1997, and is not relevant for the purposes of income tax and regional tax on productive activities. The limits referred to in Article 1, paragraph 53, of Law No. 244 of December 24, 2007, and in Article 34 of Law No. 388 of December 23, 2000, do not apply to the tax credit referred to in this article. |
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Allocation of funds for supporting the maintenance, protection and restoration of public cultural property, including granted to private entities |
Tax credit equivalent to 65 percent of the amount donated. The upper limits of eligibility for the tax credit are for Business Income Holders and Non-business Entities that also carry out business activities the tax credit is recognized within the limit of 5 per thousand of annual revenues. |
