How to declare income tax

Anyone who made a donation last year to social projects must declare the amount in this year’s Individual Income Tax (IRPF).

And with this, you can even secure benefits such as a bigger refund or less tax to pay, if you choose the full form. This is the case of those who donated to Tribute to the Future, an initiative of the Norberto Odebrecht Foundation to support the education of teenagers who live in rural areas.

Those who donated to Tribute to the Future not only made a true Perfect Goal for Education, but can also obtain benefits in their Income Tax return.

By including it in the tax return, the amount donated to the Campaign can help reduce the tax payable or increase the refund to be received by the taxpayer. “It is as if it were a compensation given by the IRS for the donation made in 2022,” explains Adélcio Menezes, responsible for Partnerships at the Norberto Odebrecht Foundation. “So at the end of the day it is as if the donor has paid nothing extra to help.”

In order for you to get the tax benefit, you must meet the following criteria:

-Declare the IRPF using the complete form;

– Having made a donation to a Fund for the Rights of Children and Adolescents – as is the case with the Tribute to the Future campaign, which supports projects approved by the councils that manage these funds;

-Have the receipt that proves the destination in hand;

-Pay attention to the limit of the amount that can be deducted: up to 6% of the tax due.

How to declare?

The process of reporting the donation in your tax return is very simple. Just access the IRS Income Tax system and click on the ‘Donations Made’ tab. Then select ‘New’. After selection, choose code 40 for municipal funds for Children and Adolescents’ Rights, and enter the CNPJ of the fund (available on the donation receipt sent by the Tribute to the Future team) and the donation amount. To finish, click ‘Ok’.

To see the step by step declaration in more detail, click here.

Donation in the declaration

Those who could not make a donation last year to the campaign can still support Education. The three municipal funds benefited by Tribute to the Future are among the options for donation at the moment of declaration: to contribute, just select the option ‘Donations Directly on the Declaration’ and choose the municipal funds of Igrapiúna (BA), of Presidente Tancredo Neves (BA) or NiloPeçanha (BA) – cities where the rural schools supported by the campaign are located.

In this case, however, the amount that can be donated  is not the same. Those who donate at the time of the declaration can only contribute up to 3% of their tax due, half of what could be donated if the donation happened still in 2022.