Provides Tax Benefits For Donations To Foundation Alberto Hurtado

Original Language Title: ESTABLECE BENEFICIOS TRIBUTARIOS PARA DONACIONES A FUNDACION ALBERTO HURTADO

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"Article 1.-which in accordance with the rules of the income tax act to declare their effective incomes shown by a balance sheet and taxpayers who make donations to the Foundation Alberto Hurtado, will lower as spending the sums of money donated for the purposes of the determination of the liquid taxable income affects to the taxes established by this law , up to an amount not exceeding 10% of the taxable liquid income of first category of the donor.
Shall apply only to the benefits established in the preceding paragraph, the first donations that accepts the Foundation until, together, to know the maximum amount of $800.000.000. The Foundation will certify this circumstance at the time of accepting each donation.
The deduction as an expense of the donations referred to in this article, shall be carried out in the exercise actually incurred in the disbursement and shall be credited with receipts signed by authorized representatives of the Foundation donating, in the form determined by the internal revenue service.
Donations that comply with the requirements established by this provision does not require the formality of innuendo and shall be exempt from all taxes.
This article shall apply from the date of its publication and until 31 December 1998.