Law no. 156/2019, which was published in the Official Gazette no. 625 / 26 July 2019 and entered into force on 29 July 2019, sets a new sponsorship percentage
Starting August 2019, companies are entitled to deduct a higher percentage of sponsorship expenses from their corporate income tax, i.e. 0.75% (previously 0.5%) of their turnover, but no more than 20% of their corporate income tax.
We kindly remind you that the tax deduction can only be taken if the beneficiary of the sponsorship is enrolled in the Registry of non-profit legal entities entities/religious entities on the date on which the contract is concluded. The list of entities enrolled in the Registry can be accessed here: https://www.anaf.ro/RegistrulEntitatilorUnitatilorCult/.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.