According to the provisions of Law No. 571/2003 regarding the Tax Code amended by Ordinance No. 120/2013 (article 21, paragraph 4, character p) and also of Law No. 32/1994, concerning sponsorship, with subsequent amendments and additions, taxpayers who owe and/or acts of patronage and the grantors of private scholarships, according to the law, deducted from income tax payable, amounts relating to the minimum limit specified below:
- 3‰ of the turnover, for situations in which applicable accounting regulations do not define the indicator «turnover», this limit shall be determined according to the rules.
20% of the profit tax due. The amounts that are not deducted from income tax, under the provisions of this point, shall be carried over into next 7 consecutive years. The recovery of these amounts shall be made in the order of their registration under the same conditions, each time to pay the tax on the profit.