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Tax concessions for sponsorships to "Inima pentru Inima" Foundation

Sponsorship is the legal act by which two persons agree on the transfer of ownership of material goods or financial means to support non-profit activities carried out by one of the parties, called the beneficiary of the sponsorship.

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The profit tax  payer who perform sponsorships according to the Roumanian Law no. 32/1994 on sponsorship, with subsequent amendments and completions, the expenses incurred are non-deductible but the related amounts are deducted from the profit tax due at the level of the minimum value between the following:

  • the value calculated by applying 0.5% to the turnover;

  • the value representing 20% of the due profit tax.

 

The amounts that are not deducted from the profit tax are carried forward for the next 7 consecutive years. The recovery of these amounts will be carried out in the order of their registration, in the same conditions, at each term of payment of the profit tax.

In the case of payers of income tax on micro-enterprises, starting with April 1, 2018, the entities that carry out sponsorships according to the Law no. 32/1994, with the subsequent amendments and completions, for the support of non-profit and religious organizations, which are accredited social service providers with at least one licensed social service, decrease the related amounts from representing 20% of the income tax of micro-enterprises due for the quarter in which they registered the respective expenses.

The amounts that are not deducted from the tax on the income of micro-enterprises due are carried forward in the following quarters, for a period of 28 consecutive quarters. The deduction of these amounts from the micro-enterprise income tax due, in the next 28 consecutive quarters, is made in the order of their registration, under the same conditions, at each term of payment of the micro-enterprise income tax.

"Inima pentru Inima" Foundation

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