The social destination of Income tax (IR) this year may reach R$ 9.65 billion. The donation supports social and cultural projects, allowing the taxpayer to allocate a portion of the tax to these funds, as stated by the Federal Revenue to Agência Brasil.
Cultural areas and support funds for children, adolescents, the elderly, para-sports projects and others are covered by the tax donation. In 2022, the social allocation invested around BRL 78.2 million in funds for the elderly and BRL 143.4 million in funds for children and adolescents. The 'Destination Campaign' is specifically aimed at these actions to encourage and support social projects.
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For this reason, the Revenue estimate considers the amounts that were donated last year, pointing out that this year the potential may be increased.
Social destination of Income Tax
Many taxpayers may not know it, but the intended amount does not work as an overpayment. The amount donated is deducted from the income tax due or the tax that will be refunded, without the need to invest directly from your pocket.
For Mario Dehon, Undersecretary of Revenue Collection, Registration and Assistance, the importance of the donation serves as a totally secure support and financing of public policies.
“The tax serves to finance public policies in general, but when you allocate part of the IR you know exactly where it will be applied”, he said, ensuring the safety of the donation through the declaration.
For individuals, 6% to 7% of the tax may be allocated to projects or 3% may be allocated to each fund – including children, adolescents and seniors -, if the amount is allocated directly at the time of declaration.
Do you want to invest in social projects this year? At the Federal Revenue website there is a step by step indicating how to make the donation.
The delivery of the Federal Revenue Collection Document (Darf) began on March 15, during the last week, with the deadline set for May 31.
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