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Ombudsman Titov proposes to exempt business donations to NGOs from taxes

16:57 13/12/2018

MOSCOW, December 13 (RAPSI) – Russian business ombudsman Boris Titov has suggested that businesses could forward up to 20% of tax-exempt profit as donations to certain NGOs, the ombudsman’s press service has told RAPSI.

Currently, donations are subject to the same taxes as all other funds. Titov believes that realization of his proposal would not cause a serious damage to the budget, the statement reads.

The ombudsman also proposes to limit the number of NGOs that would be able to receive tax exempt profit of businesses because dishonest entrepreneurs often use non-governmental organizations in their tax evasion schemes. The list of such NGOs must include organizations engaged in socially beneficial activities and worthy causes.

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Ombudsman Titov proposes to exempt business donations to NGOs from taxes

16:57 13/12/2018 Russian business ombudsman Boris Titov has suggested that businesses could forward up to 20% of tax-exempt profit as donations to certain NGOs.
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