Modification of the Fiscal Code: Sponsorship

In the Official Gazette with the number 625 of July 26, 2019, was published the Law 156 of July 25, 2019, for the modification of art. 25 paras. (4) letter i) of Law no. 227/2015 regarding the Fiscal Code.

Point 1 of Article 25 (paragraph 4) (letter i) of Law no. 227/2015 regarding the Fiscal Code, published in the Official Gazette of Romania, Part I, no.688 of September 10, 2015, with the subsequent amendments and completions, is modified and will have the following content:

(4) The following expenses are not deductible:

  1. i) sponsorship and/or patronage of arts expenses and expenses related to private scholarships, granted according to the law; taxpayers who carry out sponsorships and/or patronage acts, according to the provisions of Law no. 32/1994 regarding the sponsorship, with the subsequent modifications and completions, and of the Law on libraries no. 334/2002, republished, with the subsequent amendments and completions, as well as those granting private scholarships, according to the law, reduce the related amounts from the profit tax due at the level of the minimum value between the following:

“1. the value calculated by applying 0.75% to the turnover; for situations in which the applicable accounting regulations do not define the indicator of turnover, this limit is determined according to the norms;”