Income tax

Donators to the SOPHIA Fund for the Future are eligible for the following tax benefits.

Tax deduction of donations under the Income Tax Act: Applicable to individuals

Individual donators are eligible for deduction either from income (1) or from income tax (2) by their choice.Eligible for the tax deduction scheme (2) are donations on and after January 1, 2011.

Rough guide of tax refund amount

(1) Income deduction scheme

Donators can deduct the sum of contribution from their total income in the year of donation based on the following calculating formula.
(Sum of annual donations* minus 2,000 yen) = Amount of deduction from income
*Limited to maximum 40% of annual gross income, etc.

(2) Tax deduction scheme

Donators can deduct the sum of contribution from their total income in the year of donation based on the following calculating formula.
(Sum of annual donations* minus 2,000 yen) x 40% = Amount of deduction from income tax**
** Limited to maximum 25% of income tax

About procedures

Please file your income tax return with a competent tax office in the year after your donation.
In filing tax returns, the following documents become necessary.“Bank Transfer Payment Bill-cum-Receipt” received at the time of transferring your donation from an account at a financial institution represents a “Receipt of Donation” and so please lay it up in lavender.
The following certificates (copies) will be sent to you upon confirming receipt of your donation.

(1) For income deduction: “Receipt of Donation” and “Certificate of Public Interest IncorporatedAssociation,etc(copy)”
(2) For income tax deduction: “Receipt of Donation” and “Certificate Associated with Income Tax Deduction (copy)”

* In the event of two or more donations made in the same year, you are required to obtain a “Receipt of Donation” each time but you need only one certificate (copy) sent at the time of your first donation in order to file an income tax return.
*In filing a tax return, you are recommended to use the National Tax Agency’s website. An English manual on “How to create a final tax return for office workers” is available here: 061.pdf (nta.go.jp)
*Please contact your competent tax office to seek advice on filing tax returns.