If you are an entrepreneur and perform activities related to the care of the elderly, health and care work, children, education, R & D, business development, social action, sports activities, culture, occupational insertion, natural parks, employment, etc. and are not legally constituted as a foundation, you may be missing out on opportunities.
Using a foundation to offer these types of activities is accounted for by law, and allows individuals and companies to enjoy important tax incentives: certain exemptions from corporate tax, exemption from IBI, IAE and value added on urban lands tax, etc.).
In ALCAZAR LAWYERS AND CONSULTANTS we have experts in the constitution and management of foundations.
Gifts and donations, contributions from collaborators, subsidies, income from assets, tax-exempt economic activities, etc., are income exempt from corporation tax.
Other tax-exempt economic activities are the provision of services for the promotion and management of social action, as well as the following activities (including auxiliary or complementary activities, such as ancillary services for food, accommodation or transport): child and youth protection, assistance to the elderly and persons with disabilities, including training, community and family social action, hospitalization and health care, education and training.
Donors also obtain deductions from income tax (IRPF), of more than 25% if it is multiannual or 70% up to the first 150 euros, and for companies of more than 35% of the corporate tax quota.
In conclusion, foundations are:
· the most useful tool for attracting public and private funds.
· the legal constitution that offers most continuity in the future, bringing more substance and consolidation to the project.
· more agile and flexible.
· more linked to society, to which it contributes with an even greater service because of the tax benefits involved.
· less aggressive than commercial companies because of the social nature of the work.
· more prestigious and credible.