412 tal-2014 - Regoli tal-2014 dwar Donazzjonijiet (Community Chest Fund)

L.N. 412 of 2014

INCOME TAX ACT

(CAP. 123)

Donations (Community Chest Fund) Rules, 2014

IIN exercise of the powers conferred by articles 14(2)(b) and 96

of the Income Tax Act, hereinafter referred to as "the Act", the

Minister for Finance has made the following rules:-

(1) The title of these rules is the Donations (Community

Chest Fund) Rules, 2014.

(2) These rules shall be deemed to have come into force as

from the year of assessment 2015.

(1)

These rules shall apply only to companies as defined

in the Act.

(2) These rules shall apply only with respect to donations

made between 1st January and 31st December 2014 and shall cease to

apply after the year of assessment 2015.

(1) Where a company makes a cash donation of not less

than two thousand euro (€2000) to the Malta Community Chest Fund,

the equivalent of 50% of such donation may be claimed as a

deduction against its income for the year of assessment 2015,

provided that a relevant signed certificate in respect of such donation

has been issued by the secretary of the Malta Community Chest Fund

and is attached to and submitted together with the income tax return

for the year.

(2) The certificate referred to in sub-rule (1) shall show the

date of the donation, the name and company registration number of

the donor and the value of the donation.

(3) The deduction as aforesaid shall only be allowed where the

Malta Community Chest Fund has forwarded the details of all

qualifying donations to the Commissioner by the 30th June, 2015.

€0.09