Certain associations can be exempt from paying taxes on their profits. This applies to associations whose purpose and organizational structure ensure that profits are not distributed to private individuals, businesses, or organizations.

Certain foundations may also qualify for exemption from paying taxes on their profits. For foundations, the condition for tax exemption is that profits cannot be used for commercial purposes.

Submission of Financial Statements

Associations must submit financial statements to the Tax Agency. This requirement applies even if the association is exempt from paying tax on profits.

Foundations must also submit financial statements to the Tax Agency, even if the foundation is exempt from paying tax on profits.