Can be used 100% by the state or you can invest 20% in support of the Romanian Optical Fiber Association.
Dear AFOR Members,
You choose to direct up to 20% of the state's tax to the Romanian Optical Fiber Association. Your sponsorship will help AFOR grow into representativness, image and strenght, for the benefit of all members and the fiber optic market in Romania. We are requesting support through this contribution, for the benefit of AFOR, for running existing and future projects, legislation, standards and training.
Redirectioning the 20%
This does not involve additional costs for your company, but only a reallocation of funds that will go to your association, instead of the state budget.
The Tax Code allows you to do so and your donation/sponsorship costs you nothing. According to art. 8 of the Law no. 32/1994 regarding the sponsorship, with the subsequent modifications and additions, the Romanian individuals or juristic persons, benefit from the reduce out of the taxable base with the equivalent of the sponsorship, according to the law.
According to art. 21 par. 4 let. p) of the Fiscal Code, taxpayers who carry out sponsorships shall be deducted from the profit tax due to the related amounts within the minimum limit specified below:
The procedure is simple: it is calculated the amount of 20% of the corporate income tax, a sponsorship contract with AFOR is concluded, and the amount is transfered to the account specified in the contract. The amount may be no matter how small but not higher than the limits mentioned. Expenses are deductible, so costs for the company are zero.
WHAT DO YOU HAVE TO DO?
According to Law no. 32/1994 on sponsorship, with subsequent modifications and additions, the sponsorship is done on the basis of a contract, concluded in written form, between the sponsor and the benefiaciary, with the specification of the object, the value and the duration of the sponsorship as well as the rights and obligations of the parties. Under the law, sponsorship is the legal act by which two people agree on the transfer of ownership of material goods or financial means, to support non-profit-making activities carried out by one of the parts, called the beneficiary of the sponsorship.
Set the percentage for our association. Calculate the amount associated with the percentage to be redirected to AFOR.
PLEASE MAKE SPONSORSHIP WITH THE SPECIFIC LIMITS!
THEREFOR WE CAN HELP YOU THROUGH COMMON PROGRAMMES, TO WHICH WE ARE COMMITED.
WHAT YOU SHOULD KNOW?
From a tax point of view, donations and sponsorships are deductible expenses when calculating the income tax, if the following conditions are met cumulatively: are within the limit of 0,3% of turnover; do not exceed more than 20% of the income tax due.
Your support is simple and free of charge, but it can give you the satisfaction of belonging to a strong and representative body on the optical fiber market in Romania.
For details and contract, please contact us at 0729 390051 or e-mail: firstname.lastname@example.org