You can donate in cash and kind and are entitled to a credit of 50% of the amount of such donations, which is charged against taxes for the year or period in which the donation is made effectively. The part of the gift that can not be imputed as credit, may be reduced as expenses up to the amount of taxable profit for the year in which the donation was made, as determined by the Law on Income Tax.The limit of tax credit:
The amount of the tax credit may not exceed 2% of the (absolute Global Limit) nor taxable profit may be greater than 20,000 UTM, determined in accordance with the provisions of Article 41 of the Law on Income Tax.
The amount of donations that make these taxpayers can obtain tax benefits of this law shall not exceed, at its option, the absolute overall limit of 1.6 x 1000 or the equity of the company at the end of each accounting year. If opt for the latter limit, taxpayers may make donations even if they have tax losses in the year.
This can be lowered to the amount of taxable profit, even in the two years following that in which the donation was made. The balance is not lowered in this way, will not be accepted as an expense but will not be subject to the provisions of Article 21 of the Law on Income Tax.