How can I deduct tax for sponsorships?

Profit tax-paying companies

The updated Tax Code establishes that, in calculating the profit tax, the smallest value of the following two is tax deductible for sponsorships:

• 0,75% of turnover (previously 0,5%)

• 20% of profit tax

Important: in order to be deductible, the sponsorship must be paid before the end of the last month in the trimester

If the sponsorship is higher than the deductibility threshold, the amount may be recovered from the profit tax owed in the following 7 years

Sponsorship is a deductible expense if the places of worship / NGOs are registered with the Tax Agency ANAF in a special Register - introduced in April 2019 (details)