The present article discusses several tax aspects related to corporate philanthropy. Unlike individual giving, the taxation of corporate philanthropy received – and still receives - little scientific attention. In general, legislator treats corporations as individuals for tax purposes, subjecting them to the same tax incentives for charitable giving. However, the economic research - still rather scarce - on corporate giving behaviour suggests that it is very different from the individual giving. In this article, I argue that policy makers should consider this fact when creating tax incentives for corporate philanthropy.