Business leaders urged to donate to charities to benefit from tax claim

BUSINESS leaders have been advised to consider philanthropy, or charitable donation, as a means to reduce their income tax liability, and save thousands of euro annually.

About €500 million is currently donated by private investors to the Irish not-for-profit sector but the Community Foundation for Ireland (CFI), an organisation which provides advice to philanthropists, said business people and other self-assessed taxpayers can take advantage of the Government’s tax rebate scheme for charitable donations.

By doing this they could maximise the benefits to social and charitable organisations, while at the same time reducing their overall tax burden, it said.