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Donations (University Research Innovation and Development Trust) Rules – Legal Notice 426 of 2012

Applicable to

Individuals and Companies

Allowable Deduction

Donations (in monetary amount or in any other asset or in kind) made by an individual or a

company to the University Research Innovation and Development Trust will be an allowable as

a deduction against that person's chargeable income (in the year it was made) as long as the

donation is not less than Euro 150 and not greater than Euro 50,000.

Conditions Apply

Certain conditions must be adhered to:

(a) A relevant signed certificate in respect of such a donation is issued to the donor by the

trustees of the University Research, Innovation and Development Trust. The certificate

should include the date of donation, name, identity card number/ company registration

number, address/registered address of the donor, value of the donation and the

purpose for which the donation is being made); and

(b) The donation is made for the purpose of research, innovation and development; and

(c) The trustees of the University Research, Innovation and Development Trust have

submitted (to the Commissioner) a statement including the details of the donor and

donation listed in the certificate provided by the University Research, Innovation and

Development Trust to the donor.

Other Matters

When an asset is being donated, the written down value of the asset (cost less capital

allowances as at date of donation) will be considered to be the value of the donation.

When an asset is purchased by the donor to forward to the donee or is issued out of the donor's

own stock, the value of the donation will be the equivalent to its cost to the donor.