The Department of Finance has declined a proposal from the Department of Rural and Community Development that would have allowed wealthy individuals to donate €1 million in their will without tax penalties.
The proposal aimed to encourage philanthropy among Ireland’s wealthiest citizens by creating a tax-exempt pathway for large charitable donations through estate planning. However, the Finance Department rejected the suggestion, effectively maintaining current tax regulations on inheritance and charitable giving.
According to The Irish Examiner, no further details were provided about the specific reasoning behind the rejection or alternative approaches to promoting philanthropic contributions.