1The 2011 Tax Reform introduced some important changes for those individuals and corporations that make charitable donations to non-profit organizations.
The Reform significantly increases the maximum deduction limit that individuals, corporations and partnerships can claim on their income tax return for donations made to eligible organizations.
Within this context, eligible charitable organizations are those that have been certified as such by the Puerto Rico Department of the Treasury.
Under the tax regulations: Individuals may deduct 100% of donations made, up to a maximum of 50% of their adjusted gross income, and corporations and partnerships may deduct 100% of donations made, up to a maximum of 10% of their net income (computed before deduction).