Charity will be the "lifestyle of the majority"

Charity will be the "lifestyle of the majority"

In the coming years, Russian benefactors and charitable organizations will receive new tax benefits, as stated in the draft concept of improving the field of charity in Russia until 2025 and the plan of measures for its implementation for 2019-2020, prepared by the Ministry of Economic Development (RBC has a copy). Most of the proposals were prepared by the staff of the Higher School of Economics.

As drafted, its goal is to overcome public distrust in charitable activities, create tax breaks for benefactors and charitable organizations and, as a result, “the transformation of charity into the lifestyle of the majority”. The authors of the document note that it is necessary to get rid of the gap between the number of citizens who declare their potential willingness to participate in charity, and the number of people actually involved in this activity.

In July 2019, the Ministry of Economic Development is planning to submit a bill expanding tax incentives for benefactors to the State Duma.