Newsletter 1/2019 – Annual informative statement regarding sponsorship beneficiaries

According to Law 227/2015 regarding the Tax Code, the companies paying corporate income tax and microenterprise tax may benefit from tax credit for the sponsorship / scholarships granted, within certain limits and terms provided by the law.

 

In addition to the existing legislation, in July 2018 OPANAF no. 1825/2018 was issued, approving the template and the content of the form 107 "Informative statement regarding the beneficiaries of the sponsorships / private scholarships", which should be prepared and submitted electronically.

 

Form submission

Form 107 is filed by taxpayers who pay corporate income tax, as well as those who pay micro-enterprise tax, as long as they have made sponsorships within the legal terms, in the fiscal year 2018 or even earlier if sponsorship amounts from previous years for which they did not benefit from a tax credit have been carried forward.

The main submission deadlines of the form are:

• For corporate income tax payers is the same deadline as for submitting the annual tax return (March 25 or, in some cases, February 25 of the following year)
• For paying micro-enterprise taxpayers is January 25 of the following year or 25^th of the month following the last quarter in which they applied this tax system.

Thus, a micro-enterprise that will start paying corporate income tax during the fiscal year, will have to file the statement 107 for that year twice: once when exiting the micro-enterprise tax system and again at the deadline for submitting the corporate income tax return.

 

Filling the form

Form 107 is filled in with the following information, detailed for each beneficiary: the identification data of each sponsorship beneficiary (name, tax code, address), the amount granted as sponsorship, the amount carried forward from previous periods, the amount deducted from the profit tax / micro-enterprise tax.

 

Disclaimer

The information in this newsletter is intended to give you an overview of legislative news; the newsletter does not contain a complete analysis of each topic. For more information about the subjects presented, please contact us. We do not accept any responsibility for decisions or omissions followed by the use of the content of this newsletter. All Boscolo&Partners newsletters are available at the following address: http://www.crowe.ro.

 

 

Boscolo & Partners