Your donations to the EM Normandie Business School Foundation are tax deductible
Placed under the aegis of the Fondation de France, the Foundation benefits from the tax advantages granted to foundations recognised as being in the public interest. Depending on the legislation in force, each of your donations entitles you to a tax deduction for Income Tax (impôt sur le revenu - IR), Property Wealth Tax (Impôt sur la Fortune Immobilière - IFI) or Corporation Tax (Impôt sur les Sociétés - IS).
2024 student scholarship award ceremony
Tax deductions by type of tax
The reduction is reduced to 20% of taxable income.
- €50 - 66% reduction: -€33
Your donation costs €17 - €300 - 66% reduction: -€198
Your donation is €102 - €1,000 - 66% reduction: -€660
Your donation will cost you €340 - €5,000 - 66% reduction: -€3,300
Your donation will cost you €1,700 - €10,000 - 66% reduction: -€6,600
Your donation will cost you €3,400
The reduction is capped at €50,000, i.e. a donation of €66,666.
- €50 - 75% reduction: -€37.5
Your donation costs €12.5 - €300 - 75% reduction: €225
Your donation is €75 - €1,000 - 75% discount: -€750
Your donation costs €250 - €5,000 - 75% discount: -€3,750
Your donation comes to €1,250 - €10,000 - 75% discount: -€7,500
Your donation will cost you €2,500
Your donation will be taken into account up to a limit of €10,000 or 0.5% of turnover if higher.
- €50 - 60% reduction: -€30
Your donation will cost you €20 - €300 - 60% discount: €180
Your donation will cost you €120 - €1,000 - 60% discount: -€600
Your donation is €400 - €5,000 - 60% discount: -€3,000
Your donation will cost you €2,000 - €10,000 - 60% discount: -€6,000
Your donation will cost you €4,000
Reduced income tax
Withholding tax changes nothing! You can still benefit from a tax reduction of 66% of the amount of your donation in year n! What does change is the way the tax administration team refunds the tax reduction, in 2 stages:
- an advance of 60% of your tax reduction on your donations made in year n-1 will be paid to you on 15 January of year n+1
- a positive or negative adjustment, calculated according to the amount of your donation in year n.
Fondation de France illustrates withholding tax
For example:
- In 2021, you made a donation of €100 to the Foundation that you declared in 2020, and in September 2022 you received your 2021 tax notice with a reduction of €66 (66% of the amount of your donation).
- In 2022, you also made a donation of €100 to the Foundation.
- In January 2023, you received an advance equal to 60% of €66 (your tax reduction calculated on your 2021 donation), i.e. €39.50.
- In June 2023, you declared your income and your donation for 2022.
- In September 2023, you received your tax notice with a reduction equal to €66 (the reduction to which you are entitled on your 2022 donation) less €39.50 (advance received in January 2023).
- In January 2024, you will receive an advance equal to 60% of €66 (your tax reduction calculated on your 2022 donation), i.e. €39.50.
Reduction in corporation tax (IS)
Corporate philanthropy is a scheme that enables companies to make a donation to an organisation, in the form of financial or material aid, to support a work of general interest, in return for which they can benefit from a reduction in corporation tax.
For companies subject to corporation tax, a donation to the EM Normandie Business School Foundation entitles them to a corporation tax reduction of 60% of the sums paid (40% for donations over €2 million), the donation being taken into account up to a limit of €20,000 or 0.5% of turnover excluding tax, whichever is higher.
Reduction in the IFI (Impôt sur la Fortune Immobilière - tax on property wealth)
Property wealth tax (IFI) applies to tax households with net property assets of more than €1.3 million.
A donation to the EM Normandie Business School Foundation entitles you to a tax reduction on the IFI of 75% of the amount, capped at €50,000.
Legs & donation
The EM Normandie Business School Foundation is authorised to receive legacies, temporary usufruct donations and life insurance policies. To find out more, please contact us.
