Tax Flash nr. 45
24 November 2020
Law 262/2020 for amending and supplementing Law no. 227/2015 regarding the Fiscal Code
In the Official Gazette no. 1112 dated November 20th 2020, was published the Law 262/2020 that entered into force on November 23th 2020.
The amendments reffer to:
- granting facilities to taxpayers that want to invest in dual-vocational education. Therefore, they can benefit from a tax exemption when calculating the corporate income tax invested in supporting the vocational-dual education, under certain conditions;
- reducing the corporate income tax due with the amounts related to the scholarships granted to students enrolled in vocational-dual education, within the limits provided for sponsorships;
- micro-enterprises that grant scholarships to students enrolled in vocational-dual education decrease the related amounts from the income tax of micro-enterprises to the level 20% of the tax due for the quarter in which they registered the respective expenses.