Taxation
A company can deduct a donation to the Finnish Cultural Foundation amounting between €850 and €50,000 from its taxable income, in accordance with section 57, subsection 2 of the Income Tax Act.
For the time being, private individuals do not have the right to deduct tax on donations they make.
Based on chapter 1, section 2 of the Estate Duty and Gift Tax Act, the Finnish Cultural Foundation is not liable to pay inheritance or gift tax on property received from donations and bequests.
Money collection permit
National Police Board of Finland, Gambling Administration
Money collection permit number: Finland RA/2020/1046, covering the whole country, except Åland
Date of issue: 2 September 2020
Permit holder: Finnish Cultural Foundation (registered foundation)
Purpose of the funds raised: The Finnish Cultural Foundation’s mission is to promote and develop cultural and economic life in Finland. The Foundation carries out this mission by giving grants and awards, and by performing and supporting other activities that promote the success of Finnish culture. The funds raised are used to support various projects in science, research, art and culture. The funds can be used for either a specific or general purpose.
Funds raised for general use can be used to support all fields of science, research and art without limitation. Funds raised for a specific purpose can be used to support a distinct field of science, research or art.
Fundraising account: FI88 1555 3000 1277 70 (NDEAFIHH)
When you transfer your donation to our fundraising account, please write in the message field either the name of the donor fund to which the donation is to be directed or “general fund”. Please also indicate whether your donation is an operational donation or a capital donation. Operational donations are used directly to the purpose specified by the donor. Capital donations are added to the capital of a specific fund, and the investment income they generate is used for the fund’s purpose.