THE FINANCE MINISTER has announced a “new, simplified” tax relief regime in regard to donations to charities and other approved bodies.
The new blended rate of 31 per cent will apply to all donations made in the following year, said Michael Noonan at the announcement of the 2013 Budget.
Noonan said that the decision had been made following a public consultation.
“I have, since taking office, received proposals that suggest there may be a significant number of philanthropists world-wide, many of them Irish citizens or with Irish family backgrounds, who would be interested in making significant donations to initiatives that would aid Ireland’s economic recovery, if our tax system were changed to ensure suitable recognition of such donations,” he said.
“I have decided to ask the Joint Oireachtas Committee on Finance and Public Expenditure Reform to examine these proposals and revert to me with its recommendations.”
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