Russian companies received 1.6 billion rubles for charity spending in 2021, with a total of 3.6 billion in tax benefits received by businesses since 2020, the country's Economic Development Ministry said.

"With the introduction in 2020 of tax preferences for businesses that donate to NGOs, there has been an increase in the number of companies that report charitable expenses in their tax returns and receive a profit tax break," the ministry said.

In 2020, 36 companies donated more than 10 billion rubles to non-profit organizations, in the first half of 2021 - 8 billion rubles, has already donated 53 companies, the agency specified.

Recall that amendments to the Tax Code, which allowed businesses in the taxation of profits to take into account donations to nonprofit organizations, was approved by President Vladimir Putin in 2020. These organizations are included in special registers with more than 43 thousand organizations.

Made in Russia / Made in Russia

Author: Karina Kamalova