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Temple Project Finance

 

Update 05 October 2015: Tax-deductible donations

Last year we announced that, as a result of the new law regulating the rapport between the Italian State and the Italian Buddhist Union, it was now possible to declare up to 1,032 euro of voluntary donations per annum to the Santacittarama Association for the purpose of tax deductions of those residing in Italy. It has recently been clarified, however, that this is only applicable to donations made directly via bank transfer through the account of the Italian Buddhist Union. For further information and for the bank account details, please read here: www.buddhismo.it


         

Letter from Gene Cresta, financial advisor on the temple project

 

Dear friends,

finally the council of Poggio Nativo has given a favourable response to the request for a much-needed temple building at Santacittarama.

Construction work will probably begin next spring or summer and is expected to be completed within two years.

Funds that have accumulated to date, thanks to offers from many generous friends of the monastery, amount to around half the anticipated costs, and we have faith that more help will arrive now that the project has been formally approved.

Another positive piece of news is that a law regulating the rapport between the Italian State and the Italian Buddhist Union has come in to effect. In particular, apart from providing a series of guarantees for places of Buddhist practice, it has also introduced the possibility of deduction from declared taxable income of volontary donations up to the amount of 1,032.91 euro, in favour of the Italian Buddhist Union or other recognized bodies such as the Santacittarama Association.

This means that whatever free-will donation given to the realization of the temple project may be made directly at the monastery, or by check or bank transfer. The contribution, for those living in Italy, will be deductible for each tax year, up to the amount of 1,032.91 euro.

For direct bank transfers these are the coordinates of the bank account:

Name of account: Associazione Santacittarama

Account IBAN: IT24 V 06280 73740 1000 0000 1452

BIC/SWIFT: CRRII T22

Bank: Cassa di Risparmio di Rieti  Agency: 122

Bank address: S.S. N.4 Salaria KM 53, 02030 Poggio Moiano (RI), Italy

For those living in Italy, please provide name, address and fiscal code, and under motive write "Freewill donation for the support of religious practice".

On this website we will provide periodic updates on the progress of building work and the financial situation. Once work has been completed a final report will be made available to whoever is interested on the contributions received and the expenditure on the project.

For any further information regarding the financial aspect of the temple project, please write directly to Gene Cresta at this address: [email protected].

 

 

 

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