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Law amending art. 25 para. (4) letter i) of Law no. 227/2015 on the Fiscal Code, published in the Official Gazette no. 625 of 26 July 2019
Law no. 156/2019 changes the percentage that corporate income taxpayers performing sponsorships and / or acts of patronage, according to the provisions of Law no. 32/1994 on the sponsorship, with the subsequent amendments and completions, and Law no. 334/2002 on libraries, republished, with the subsequent amendments and completions, as well as those who grant private scholarships, according to the law, may deduct from the corporate income tax.
According to the new provisions, the percentage of the expenses incurred with sponsorships and / or acts of patronage as well as of those incurred with private scholarships, granted according to the law, which can be deducted from the corporate income tax, is increased from 0.5% to 0.75% on the the corporate income taxpayer’s turnover.
The law enters into force three days after its publication in the Official Gazette, respectively on 29 July 2019.
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