Tax benefits

Tax benefits

The Dutch Tax Administration has classified the CineCrowd Foundation as a Public Benefit Organization (ANBI). This implies that both project supporters and partners of CineCrowd may deduct their contributions from taxes. Tax benefits can be as high as 65% of the amount of the contribution.

(note: only applicable for Dutch supporters)

 

For individuals

In case of a gift, an individual can deduct 1.25 times the donated amount from his or her income taxes. A gift of 1,000 Euro can therefore result in 1,250 Euro in income tax deductions. Different tax brackets make donations by individuals to cultural organizations even more appealing.

  • In the 33% income tax bracket, tax benefits amount to 41.25%. As a result, a gift of 1,000 Euro would in effect cost the individual 587.50 Euro.
  • In the 42% income tax bracket, tax benefits amount to 52.5%. As a result, a gift of 1,000 Euro would in effect cost the individual 475.00 Euro.
  • In the 52% income tax bracket, tax benefits amount to 65%. As a result, a gift of 1,000 Euro would in effect cost the individual 350.00 Euro.
  • With regard to gifts that may be deducted at the rate of 125%, a maximum amount of 5,000 Euro per year applies. Gifts higher than this amount can still be fully deducted from income taxes (100%).

Please note that one-time gifts are subject to a minimum and maximum value. Only the portion of the total gift that exceeds 1% of your aggregate income, with a minimum value of 500 Euro, may be deducted. In addition, the additional deduction only applies to gifts of up to 5,000 Euro per year or a maximum of 10% of the total income, whatever applies first.

Businesses

With regard to corporate taxes, a deduction of 1.5 times the donated amount applies. Therefore, a gift of 1,000 Euro results in 1,500 Euro in corporate income tax deductions. Different tax brackets make corporate donations to cultural organizations even more appealing.

  • In the 20% corporate income tax bracket, tax benefits amount to 30%. As a result, a gift of 1,000 Euro would in effect cost the corporation 700.00 Euro.
  • In the 25% corporate income tax bracket, tax benefits amount to 37.5%. As a result, a gift of 1,000 Euro would in effect cost the corporation 625.00 Euro.