Each economic entity has the power to redirect a part of the tax on profit towards social causes they consider beneficial to the community. You can sponsor up to 20% of your tax on profit (but no more than 3% of the total annual turnover) to an NGO of your choice. The tax will then be reduced by the amount of sponsorship.
We recommend that you contact your company’s accountant for assistance in this endeavor.
Legal Basis : 2008-2009 Tax Code – Title II Tax on profit, Chapter II Computation of taxable profit, Art.21 Expenses:
“4) The following expenses are not deductible:
p) The costs of sponsorship and/or private sponsorship and expenditure on scholarships; taxpayers who provide sponsorships and/or patronage, according to Law no. 32/1994 regarding sponsorships, as amended by the Library Law no. 334/2002 (republished, with subsequent amendments) and private grantors of scholarships, under the law, will reduce their income tax amount if the total of these expenses meets the following conditions:
1.is within 3% of the turnover;
2.does not exceed more than 20% of the tax owed by the company.
Public libraries sponsorship expenses, for building venues and facilities, technology information and specific documents acquisition, funding training programs for librarians, experts exchanges, specialized scholarships, participation in international congresses, are also included within these limits;”
For more details contact us by e-mail at email@example.com
Download the sponsorship contract here: Necuvinte-Contract Sponsorizare
Your contribution counts!