Did you know that every year, hundreds of children in Romania die or are seriously injured in road accidents?
Their parents, out of ignorance, lack of information, have made wrong choices on behalf of their children. And they lost. And they lost..
Road traffic accidents are one of the most common causes of death among children aged 0-12. But they are a PREVENTABLE cause.
And you, we can all make a difference, we can all join our voices and make sure that this message reaches all parents who are dangerously transporting their children by car without even realising what they are exposing them to.
The Children’s Car Safety Foundation has launched an Action Plan to Educate and Raise Public Awareness about road safety for young passengers.
We need YOU to make this a reality!
Here’s what you can do:
If you’re a business, you can direct 20% of your corporate income tax to the state. In 2004 a tax relief was introduced in the Tax Code but very few companies make use of it. According to the Tax Code art. 21. para. 4 you can deduct the corresponding amounts from the profit tax due to the State. The legislation imposes two conditions in this respect: the amount must not exceed 0.5% of the company’s turnover and it must fall within the limit of 20% of the profit tax due to the State.
Redirection procedure:
The procedure itself is an extremely easy one, involving minimal effort on the part of the company. A sponsorship contract will be drawn up following the choice of an organisation or cause to support.
It is worth mentioning that the company will have to estimate the amount of the 20% share when drawing up the contract, as the sponsorship has to be recorded in the accounts in the year for which the tax payment is made (the year before the actual payment is made). The finalised contract will then be sent to the NGO concerned, which will sign and stamp it, with the obligation to return the copy received to the company. The contract thus finalised constitutes proof of sponsorship, and the redirection will be carried out on the basis of it.
The amount to be donated is considered as a non-deductible expense and constitutes a tax credit. It does not affect the tax base. And at the time of payment of corporate income tax to ANAF, only the rest of the tax will be paid.
If the company did not make a profit, it can use the tax credit. This basically allows it to realise sponsorships even if it does not make a profit that year, the amount being covered by a tax credit available for a period of seven years. As the company’s situation improves, it can deduct from its future corporation tax the sponsorship realised in previous years and accumulated in the tax credit.
You can download the sponsorship agreement of the Children’s Car Safety Foundation for the 20% tax credit HERE.
So far, the emphasis has been on the involvement of individuals, by allocating 2% of their income tax. The lack of knowledge of tax regulations and the promotion of the 20% facility has made this mechanism obscure and rarely used by companies. This instrument could facilitate non-governmental sector financing, project development and partnerships. In terms of the beneficial effects that could arise as a result of allocating significant sums to actors involved in social projects, companies would have the power to decide how the money would be invested without leaving the state in charge of administering these funds.
If you are an employee, if you are a parent, or if you have friends who have children and who need the support of the Children’s Car Safety Foundation, transfer 3.5% of your income tax by filling in the ANAF 230 form and help us to help!
