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Sponsorship

  /  Sponsorship

Henley, William Ernest:

Invictus

Out of the night that covers me,

Black as the Pit from pole to pole,

I thank whatever gods may be

For my unconquerable soul.

In the fell clutch of circumstance

I have not winced nor cried aloud.

Under the bludgeonings of chance

My head is bloody, but unbowed.

Our firm believes that it is very important for a successful company to financially support those NGOs that help to raise and educate young people to become a more valuable human being. We believe in the arspoetic of the scout organization, , “Leave it better than you found it”, in adventure, education and the rest of the principles by which it created significant value.

There is to our knowledge no other organization more valuable and which has given the most valuable people of the modern world some important examples would be :

David Attenborough ecologist, David Attenborough ecologist, Bear Grylls, writer, adventurer, Chief Scout of England (2009-), Paul McCartney member of the Beatles, Jacques Chirac, President of France, Albert Szent-Györgyi a Nobel Prize winning scientist and discoverer of vitamin c, Böjte Csaba Franciscan monk, Horst Köhler (* 1943) President of Germany, Matteo Renzi Prime Minister of Italy, XVI. King Gustav of Sweden is the current King, Astronaut Neil Armstrong, first man on the moon, George W. Bush President of the United States, Bill Clinton President of the United States, Harrison Ford actor, Bill Gates founder of Microsoft, John F. Kennedy President of the United States, Steven Spielberg film director, Jean Chrétien Prime Minister of Canada, Joe Clark Prime Minister of Canada, John Diefenbaker Prime Minister of Canada, Stephen Harper Prime Minister of Canada, Brian Mulroney Prime Minister of Canada, Trudeau Canada Prime Minister of Canada. The organisation is over a decade old, founded by Lord Baden-Powell. Inovum SRL believes in these universal values, we invite you to make it known and to be a supporter of the Scouts in our company so that we can have personalities who can give their future to our country.

 

 

How can you help an NGO?

Support NGOs by redirecting 20% of the microenterprise’s income tax.The Romanian legislation allows any microenterprise to make sponsorships up to 20% of the income tax, and to transfer to the state budget only the remaining 80% of this tax. Sponsorships for micro-enterprises can only be deducted quarterly. For these companies, sponsorships cannot be made annually for all previous quarters.

Here are the steps to follow:

STEP 1. At the end of each quarter (for example, before March 31 for the first quarter), calculate or estimate the amount of total income for that quarter. The amount that can be redistributed should not exceed the maximum percentage of 20% of income tax. The difference of 80% of the tax due will be transferred to the state budget by the deadlines set out in the Tax Code (e.g. 25 April for the first quarter).

Why is it okay to just make an estimate? It is often difficult for many micro-enterprises to calculate the exact total amount of income for a quarter until the quarter has ended. However, if your estimate does not match the actual percentage, the law allows your accountant to adjust the sponsorship amounts (so that they fall within the 20% percentage) over the next 28 quarters (i.e. the next 7 years).

STEP 2. Download the sponsorship contract and fill it in with the details of your micro-enterprise and the amount calculated for sponsorship to the NGO. Or send your microenterprise’s details and the exact amount of sponsorship by email to the NGO.

STEP 3. Send the signed contract to the NGO’s office or by email. Your copy, signed and stamped by the NGO, will reach you in original or scanned format, as you wish.

STEP 4. Deposit the sponsorship amount to the NGO’s account. Important note: the law says that you have to make the payment by the last day of the current quarter.

STEP 5. In the following month, when your accountant calculates and reports your income tax to ANAF, he will deduct from this tax amount the amount offered as sponsorship.

STEP 6. In January of the following year, your accountant must complete and send to ANAF the 107 Declaration for all sponsorships made in 2021. ANAF updates the deadline for filing the 107 Return each year (in 2021, this deadline was January 25).