Tax assignation fetches record funds

THROUGH the beginning of November, the Slovak Financial Administration (FS) has sent to accounts of non-profit organisations a total of almost €55 million collected within the tax assignation scheme from taxes paid by citizens and companies.

Illustrative stock photoIllustrative stock photo (Source: Sme)

The amount is expected to rise still until the end of 2015, as the FS has not processed all tax returns for 2014 yet.

Companies are allowed to assign 1.5 percent of tax owed generally, and 2 percent if they donate the same share of their profits. Citizens were allowed to assign 2 percent, or 3 percent of their total tax bill if they volunteered the previous year for at least 40 hours.

For the non-profit sector, this year should be historically one of the most successful, FS’s spokeswoman Patrícia Macíková told the TASR newswire. So far, €55 million was the biggest sum; and it was transferred to non-profit organisations’ accounts in 2009.

“The Financial Administration has processed dozens of thousands of tax subjects, with the tax returns yielding a total sum for the organisations of €54,887,695.88. Before the end of the year, some more tax returns will be processed; and so the total sum will still increase,” Macíková said. She added that the organisations get the money gradually – but only if they have all obligations towards the FS settled.

The number of recipients of money via the tax assignation scheme keeps growing, from about 4,000 in 2002 to 11,120 in 2014. The amount has been rising, too: from an initial €3 million to more than €55 in 2009.

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