Gorta Calls on Dáil to Reduce Red Tape on Charitable Donations
NEWS RELEASE
GORTA CALLS ON DAIL FINANCE COMMITTEE TO HELP REDUCE RED TAPE AND INCREASE TAX REFUNDS ON CHARITABLE GIVING
Monday, 18th February 2008
GORTA - The Freedom from Hunger Council of Ireland, 12 Herbert Street, Dublin 2.
As the Oireachtas Joint Committee on Finance and Public Service commences the debate on the Finance Bill 2008, GORTA – The Freedom from Hunger Council of Ireland –urges Government and all the political parties to give immediate consideration to developing a comprehensive strategy on ‘Philanthropic Giving’ to enhance the range of tax incentives available for charitable giving, in addition to streamlining the administration costs associated with charities securing tax repayments on donations from the general public.
GORTA CEO, Brian Hanratty today stated “if Ireland is to unleash the power of philanthropy it needs to act now. Charities such as GORTA value every Euro contributed by donors – but sadly, it is clear the State doesn’t, as the young, elderly and others on low pay are discriminated against by current regulations which only allow tax repayments to charities for donations of €250 and over”.
Hanratty points out that a key driver is the need for a fiscal policy that regards philanthropy as part of a wider approach to public-private partnerships. Ireland needs to reduce and ultimately drop the €250 minimum threshold for qualifying donations. At the other end of the spectrum, the cap imposed on very large donations is a major inhibitor to growing philanthropy among High Net Worth Individuals (HNWIs)”.
“I urge all involved at the committee stage to address these issues in the Finance Bill, as well as streamlining the administration burden for charities seeking tax repayments on donations”.
ENDS
Further information is available from:
- Brian Hanratty, CEO, Office 01 661 5522, ceo@gorta.org or
- Adrienne Dunne, Communications Manager, Office 01 664 0157, Mobile 087 786 2868, email adrienne.dunne@gorta.org
