Private individuals and estates can be eligible for tax deductions on donations of €850–500,000 made to a university. Government's mached-funding scheme may quadruble the effect of donations.
Private individuals and estates can make tax-decuctible donations from 1 January 2016
Private individuals and estates can be eligible for tax deductions on donations of €850–500,000 made to a university. The eligibility is valid from 1 January 2016, and the deductions can only apply to income tax. The deductibility of donations is provided for in section 98a of the Income Tax Act and pertains to cash donations made to promote science or art. The donation must be made to a publicly funded university or institution of higher education in the European Economic Area, or to a university fund in conjunction with such an institution. The University discloses information on donations received to the tax authorities at the end of each tax year. The University requires a deed of donation with the donor's personal identity code in order to receive donations. Read the instructions on the Finnish Tax Administration's website >>
Organisations have been eligble for deductible donations since 2008
Communities and organisations are eligible for tax deductions on cash donations of €850–250,000 made to a state within the European Economic Area or a publicly funded university or institution of higher education or a university foundation operating in conjunction with such an institution within the European Economic Area to promote science, art or the preservation of the Finnish cultural heritage. Eligible organisations include listed companies, associations and foundations. Read the Income Tax Act in Finnish >>