GUIDELINES FOR DIRECTING UP TO 20% OF THE INCOME TAX OF LEGAL ENTITIES.
Are you a legal person? You can direct 20% of your tax through sponsorship to the Developing Art Association and it costs you nothing. Your sponsorship turns into direct support for supporting the independent cultural sector, artistic production and cultural education.
The administration and maintenance of an NGO involves a series of recurring expenses such as the payment of an accountant, manager, communicator or the payment of communication tools (the website, the vimeo account of zoom, etc.) which reach an annual amount of approximately 8000 euros.
At the moment, due to the lack of constant financial support, these expenses are covered either from own funds or from the financing obtained for the realization and implementation of artistic projects. This affects and limits the process and the artistic product.
Our priorities are artistic production and the development of interdisciplinary programs of alternative education, and we believe it is important to allocate as many resources as possible to their implementation.
Any support from you will help us focus on how we create for the community, not how we survive.
We thank you!
CONTEXT:
Law 30/2019 allows legal entities to deduct sponsorships made to non-profit entities from income tax. If you are/represent a legal entity, up to 20% of your income tax can be transformed quarterly into real support for the artistic community.
The procedure is simple, the legal entity that makes a sponsorship to the Developing Art Association can deduct the value of the sponsorship up to the level of 20% of the income tax due for the quarter in which it recorded the expenses.
The deduction is made by completing Declaration no. 107 and its submission by January 25 of the current year for all sponsorships made in the previous year for income tax payers and by March 25, 2020 for profit tax payers.
Amounts not deducted from income tax are carried over to subsequent quarters, for a period of up to 28 consecutive quarters.
INFORMATION
ADDITIONAL:
EXAMPLE OF THE CALCULATION OF THE DEDUCTIBLE AMOUNT:
For a 3% income tax:
Income: 100.000 lei
Income tax: 3.000 lei
20% out of the income tax: 600 lei
600 lei is the deductable sum.
HOW TO PROCEED:
In 3 simple steps you can support the independent cultural sector:
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Calculate the amount related to the 20% of income tax for this quarter
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Download the sponsorship contract and fill it out
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Send the contract to our email asociatia.developing.art@gmail.com, or at the headquarters:
Bld. Dr. Gh. Marinescu, no. 43, et. 1, apt. 2, Sector 5, Bucharest
DOWNLOAD THE NECESSARY DOCUMENTS:
Documents must be opened with the latest version of Adobe Acrobat Reader.
Declaration no. 107
Cash sponsorship contract
Sponsorship contract in products and services