The sea as a good cause | Flanders Marine Institute
 

Flanders Marine Institute

Platform for marine research

The sea as a good cause

Donations enable our scientists, engineers and students to come up with creative solutions for current problems, to develop innovative techniques and to support sustainable use of our seas and oceans. Any form of support means a step forward for our scientific knowledge. Discover the mystery of the ‘blue gold’ with us!

Leaflet philanthropy

Make a gift

Tax deduction

VLIZ is recognised as a scientific research institute which can offer tax deduction for gifts. Gifts as from EUR 40 qualify for tax deduction. A tax certificate will be sent to you during the month of March or April following the year of the donation.

You can transfer a donation to bank account number IBAN BE70 0017 1687 3425 (BIC GEBABEBB) of Vlaams Instituut voor de Zee vzw (Bank: BNP Paribas Fortis. Address: Jacob Besagestraat 54, 8400 Oostende). Because a bank gift should have a neutral character, no reference to an official gift can be made. If you wish to receive a tax certificate, please do mention your full name and address in the reference of your bank transfer.

Private donor

In Belgium the ceiling of a tax-deductible donation is set at 10% of the net taxable income, or up to EUR 376,350 (tax year 2014, revenues in 2013). For further information please visit the website of FOD Financiën.

Companies

Companies can also make a gift or donation. The tax rules are different. Companies can donate up to EUR 500,000 per tax year to VLIZ or up to 5% of their taxable income.

 

There are different possibilities to support our seas and ocean:

1. Gift

Via a gift you can transfer your goods inter vivos without notarial act. You hereby permanently renounce from the assets transferred. In this way donation duties and notary costs are avoided. Gifts can, however, not be applied to everything and there are some disadvantages. If the donor dies within three years after a gift succession duties still have to be paid. Therefore it is advisable to draw up a written document as proof of the gift. For more information, please contact your notary or visit www.notaris.be.

Manual gift

You can make a hand to hand donation to VLIZ. 

Only gifts of ‘movable goods’ can be transferred from hand to hand. Examples are a sum of money, bearer shares, furniture, art objects,  jewellery, cars, … Shares from limited liability companies (LLCs) do not qualify for a manual gift.

Bank gift

Contrary to a manual gift, whereby money is transferred from hand to hand, gifts can also be transferred to the bank account of VLIZ. This is called a bank gift. For large transfers please contact your notary for further information on the conditions of a bank gift.

You can transfer a gift to bank account number IBAN BE70 0017 1687 3425 (BIC GEBABEBB) of Vlaams Instituut voor de Zee vzw (Bank: BNP Paribas Fortis. Address: Jacob Besagestraat 54, 8400 Oostende). Because a bank gift should have a neutral character, no reference to an official gift can be made. If you wish to receive a tax certificate, please do mention your full name and address in the reference of your bank transfer.

Make a gift

 

2. Official gift via a notary

By making a donation inter vivos you can divide a part of your goods. Therefor a notarial registration is needed. In this case you will pay gift duties and notary's fees, but it will reduce your heirs’ succession duties.

Note: you cannot recall an official gift, except between spouses.

Gift of movable goods

For the gift of movable goods a flat rate is being used, regardless of the amount. The rates differ between the regions. Inform yourself concerning the prevailing rates. For the Flemish region the following rates are followed:

  • 3% for donations between lineal relatives and between spouses (incl. cohabitants)
  • 7% for donations to other persons (including organisations like VLIZ).

Gift of non-movable goods

In the case of a gift of real estate (a house, land) progressive gift duties apply in accordance with the value of the good.

Please contact your notary to assess whether a gift is the right choice.

 

3. Will

You can bequeath (part of) your assets by will to VLIZ.

General bequest

By means of a general bequest you leave your assets to a person or to an organisation. This beneficiary is then appointed as general legatee. This does not mean that the general legatee inherits everything. One can also designate specific legatees within a general bequest or one can assign a general bequest provided that it distributes goods to third parties.

Example: If you have no heirs, and you want to bequeath all your belongings to VLIZ, you can appoint VLIZ as general legatee or heir.

Duo bequest

Through a duo bequest you can provide your heirs tax benefit. By appointing VLIZ as heir, VLIZ pays the total inheritance tax, even those of other heirs.

Please note that rates vary according to the type of heir, the amount donated and the region. Since your capital may vary during your life, your legacy may also evolve through duo bequest. A duo bequest should be beneficial to all heirs. Therefore, let a professional assist you in drafting a duo legacy. Consult your notary.

 

An example

Suppose you have your residence in the Flemish region and would like to leave a movable asset of EUR 40,000 to your niece.

Without duo bequest Niece Flemish region
Gross amount EUR 40.000  
Succession duties 45% - EUR 18.000 EUR 18.000
Net amount EUR 22.000 EUR 18.000

 

With duo bequest VLIZ Niece VLIZ Flemish region
Gross amount EUR 25.000 EUR 15.000  
Succession duties for the part of the niece 45%   -EUR 11.250 EUR 11.250
Succession duties for the part of VLIZ 8,8%   -EUR 1.320 EUR 1.320
Net amount EUR 25.000 EUR 2.430 EUR 12.570

 

Your niece saves more while VLIZ is also favoured. Moreover, fewer inheritance taxes should be paid.

 

More information

  • Ask Jan Seys for our leaflet or download it:

download leaflet philanthropy

 

Your contact point

For any questions on our philanthropy programme and donations please contact

Mr Jan Seys:   +32-(0)59-34 21 40

 

If desired, we can arrange an appointment for further information.