20% of Profit Tax

Companies have the ability to direct up to 20% of their profit tax obligation (but no more than 0.3% of the total annual turnover) to an NGO of its choice.

Your tax obligation will be reduced by the amount you donate.

Help us give poor children the benefits of early education by filling in this sponsorship contract.

We advise you to consult your accountant for assistance on this matter.

If you have any questions, don’t hesitate to contact us at (+4) 0742 887 544 or oana.tomozei@ovid.ro.

Legal Basis : 2008-2009 Fiscal Code - Title II, Chapter II Income tax 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 amounts due 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.

Within those limits you may also include sponsorship expenses of public libraries, of the construction of venues, of the facilities, of the technology information and procurement of specific documents, funding training programs for librarians, exchanges of experts, specialized scholarships, participation in international congresses; “