Q4/2021 is the time of the year when companies should act promptly to plan their next CSR projects and benefit from tax credit.
Tax credit for sponsorship expenses is granted up to the lesser of: 0.75% of turnover or 20% of the corporate profit tax due.
In the case of microenterprises, the saving is up to 20% of income tax.
Amounts granted as sponsorships to NGOs registered appropriately in the National Registry will be deducted from tax on profit or tax on income. If sponsorship expenses exceed the limits mentioned above, the unused tax credit can be carried forward over the next 7 years (28 quarters).
Let’s act together!
is proud to champion CODE Kids as partner of Progress Foundation is an NGO founded in 1996, in Bistrița, Bistrița-Năsăud County.
OUR MISSION: We contribute to the development of community institutions, vulnerable individuals and groups and we help people become stronger through education, technology, research, and innovation. We provide support for citizens to evolve, capitalize on their potential and achieve wellbeing in sustainable and resilient communities. We focus on facilitating lifelong learning, transferring innovation, creating IT and STEM skills, and developing new methodologies for participatory design and social inclusion. We use public libraries as lifelong learning hubs and centers for social innovation.
“CODE Kids – Programează viitorul comunității tale” (Program the future of your community) is a national coding movement and a digital literacy program for kids aged between 10 to 14 years. The project started in 2017 with the slogan” Children are coding in public libraries” and it aims to create a coding and STEM movement in which children, youth, volunteers, and librarians from rural areas develop their digital competences and engage in the life of their community by solving creative digital themes. The CODE Kids clubs contribute to the development of children’s digital and STEM (Science, Technology, Engineering, Math) skills.
In 2021 the “Code Kids – Copiii fac coding in bibliotecile” publice program received the Social Impact Award at the Civil Society Gala (Gala Societății Civile).
We are glad to advise you on the concept More CODEKids, Less Tax and accompany you in this enriching journey.
For further details, please contact our Managing Partner, Iulia Lascau, at iulia.lascau@argusaudit.ro
Our team of professional is available for any clarifications or additional details required in your analysis. The above information represents just a summary of aspects we consider relevant in the recently published legislation. This is not exhaustive disclosure of information and it is not intended to be used as advice on any particular matter. We invite all readers to contact us for further clarification of any specific issue. Argus Audit team and its associates disclaim liability in any action taken by a third party in reliance exclusively on summarized information presented in our publications.