15. August 2005 at 00:00

Slovaks use tax credit to benefit NGOs

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SLOVAK non-profit organizations received Sk878.4 million (€22.5 million) at the end of July thanks to Slovak taxpayers. Individuals and businesses are allowed to allocate donations to NGOs out of propsective tax refunds, the SITA news wire wrote.

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Robert Merva from the Slovak Tax Directorate said that corporate entities allocated Sk579.4 million (€14.9 million); the rest came from individuals.

As of July 31, the Tax Directorate had registered approximately 430,000 allocation announcements from taxpayers that had instructed transfers of 2 percent of their paid income tax; 13,700 came from corporate entities; 416,600 from private individuals. Tax offices transferred the total amount to the accounts of 5,746 non-profit organizations registered on the list of eligible beneficiaries.

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