Hey Dexxter community,
This year, I took part in the JEZ fundraising campaign, where I managed to raise €3,720. I recently received on the promised amount from the King Baudouin Foundation. However, I am facing a challenge regarding the accounting treatment of this sum and the possible tax obligations associated with it. Is this amount received considered income and subject to taxes? I would appreciate advice on the correct way to process this.
No, I don't think so. There is no repayment obligation or anything like that, right? It's not a loan, there's no interest, etc.
Just a kind of sponsorship, so to speak? If so, I don't think it will have any impact on your accounts.
Interesting question. Was the fundraising straightforward?
No, not really, because I collected it on my own, but it was a very enjoyable and educational experience. I have never had to think so outside the box before.
That's impressive!
Thank you!
You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.
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