For natural persons
Redirect 2% of your income tax towards the Romanian Heart Foundation for the benefit of national programs aimed at preventing cardiovascular diseases.
By means of this provision in the Fiscal Code, any taxpayer in the form of a physical person may direct 2% of their income tax, due to the state, towards the Romanian Heart Foundation.
This amount does not represent a sponsorship or a donation, but a part of the state budget whose allocation you may get to decide. Should you not redirect the 2% of the income tax, the state shall be entitled to it.
In order to be able to redirect the 2% of the income tax you have to:
- Download form230 (for taxpayers with salary-based income)
Download form 200 (for taxpayers with income from other sources)
- Fill it out with your data (do not worry if you do not know the specific amount as it shall be calculated by the fiscal bodies).
- Submit it to the public finance administration (search here)
If you wish to find more information related to the procedures or purposes which benefit from the redirected money, please contact us at [email protected]
In compliance with G.O. no. 92/2003, art.11, par. (4), the beneficiaries of the amounts obtained by filling out forms 230 or 200 may not obtain fiscal information which may reveal “the identity of any physical person or legal entity”. If they wish, persons may communicate to the foundation the fact that they have submitted the respective forms.
For legal entities
Redirect 20% of your corporate tax
As per art.8 from Law no. 32/1994 on sponsorship, Romanian physical persons or legal entities that provide sponsorships benefit from the reduction of the band rate with the sponsorship equivalent, under the conditions of the law. As per art. 21 par. 4 let. p) in the Fiscal Code, taxpayers who provide sponsorships according to the provisions in Law no. 32/1994 on sponsorship shall subtract from the corporate tax due the corresponding amounts, within the minim limit stipulated below:
- 3‰ from the turnover;
- 20% from the corporate tax due to the state
According to the procedure in the Fiscal Code, business owners only need to choose the projects they deem feasible and sign the sponsorship contracts with the non-profit organisations, in which they state that they agree to redirect 20% of the corporate tax at the end of the year. It is important that large companies and, especially, small enterprises (SMEs are also included here) donate this money no later than December, otherwise it will get lost in the budget.
The procedure is simple: the 20% of the company’s corporate tax is calculated and a sponsorship contract is concluded.
The expenses are deductible, hence the costs for the company are nil.
A company registers a profit amounting to 100,000 lei
The corporate tax due to the state: 100,000*16/100=16,000 lei
20% of the corporate tax due: 16,000*20%=3,200 lei (the deductible amount of the sponsorship)
The sponsorship is totally deductible from the tax if it falls within the limits imposed by the fiscal code (not in excess of 3‰ of the turnover and 20% of the tax)
Direct 20% of your company’s corporate tax towards the Romanian Heart Foundation by concluding a sponsorship contract!