Companies paying income tax will have to submit a declaration to ANAF: form 107 “Information declaration on beneficiaries of goods/services/sponsorship/patronage”.

It will be required to be submitted starting January 1, 2024/amended fiscal year beginning in 2024, with the first submission deadline in 2025.

ANAF prepared a new form and submitted it for public discussion.

We remind you that the Ordinance on Trains (OG 115/2023), adopted at the end of last year by the Çolak government, directly affects NGOs and, accordingly, their funding.

Micro-enterprises are no longer able to deduct income tax

“From 2024, I can no longer sponsor in such a way that I have the fiscal opportunity to deduct 20% interest from the tax due. I can still do it, but without any tax benefits,” says tax consultant Cornell Grama, who analyzed the ruling.

According to GEO, the last fiscal year in which sponsorship/scholarship amounts remaining to be carried forward are deducted from microenterprise income tax is fiscal year 2023.

PFA, self-employment in general, can no longer redirect 3.5%

Taxpayers with self-employment or other types of income can no longer remit the 3.5% annual tax, says Cornel Grama.

According to him, the opportunity remains only with income from wages and salaries.

Income tax: what changes sponsorship

Spending on private scholarships no longer reduces income tax, says fiscal consultant Adrian Benza in an analysis.

According to him, the costs of goods and services provided by UNICEF are added to the sponsorship costs and reduce the income tax of 0.75% of the turnover, but do not exceed the 20% income tax. Both expenses are initially not deductible when calculating income tax.

The possibility of redirecting the amount of sponsorship or patronage expenses up to the maximum amount provided by law remains, if the income tax payer submits a redirection form.