New Tax Incentives for Donors

Make your donation to the UCC Scholarship Fund before December 31st*, to benefit from incentives offered and deductions allowed by the Puerto Rico Internal Revenue Tax Code. Act 1 approved on January 31st, 2011 (“Act 1-2011”), constitutes the Puerto Rico Internal Revenue Tax Code, which provides corporations and individuals higher deductions for donations to qualified non-for-profit organizations (among which are educational, community and faith-based organizations). In this way, according to the Act’s Explanatory Memorandum, the Government recognizes that “non-for-profit organizations provide important services to citizens that the Government itself cannot provide as efficiently.”

As Act 1-2011 allows a higher deduction to individuals and corporations making donations to non-for-profit organizations, and UCC is a qualified non-for-profit organization, your donation to the UCC Scholarship Fund will be eligible as a deductible expense for Puerto Rico income tax purposes. Please call the UCC Office of Institutional Development to find out about our initiatives and funds to which you can make your donation, at all levels, so that you can benefit from these tax deductions.

*Corporations and other legal entities that compute their net income under the accrual method, may have until the fifteen day of the fourth month following the close of their taxable year to make the donation available for such taxable year (if certain conditions are met).