2 out of 10 companies (20%) activating in Romania are not involved in sponsorship actions, either because they do not understand the routing mechanism, or because they are not convinced of the actions that should be routing the money, according to a study done at the beginning of this year by EY Romania, in partnership with the Association for Community Relations (ARC).The research titled "Fiscal credit: system of sponsorship actions in Romania" highlights the fact that most money from sponsorship were attracted by non-government organizations that activate in health (28%), social services (26%) and education (26%). On the opposite end there are organizations in the area of environmental protection with the least amount of sponsorship actions (5.3%).Furthermore, 46.9% of respondents say that they wish for sponsorship to be requested during the fourth trimester of a financial year, while sponsored sums are directly correlated with the size of the company and profit.According to EY consultants, the Law of Sponsorship and Fiscal Code allow commercial companies that pay corporate tax to offer sponsorship to entities without a lucrative purpose / public authorities / individuals for activities carried out in certain areas (culture, education, humanitarian, social) and to benefit from fiscal facilities, in certain conditions provided by the law.The study made by EY and ARC is based on the answers of 150 respondents, the data being collected during the period of December 17, 2021 and January 21, 2022, through the means of a dedicated platform.Present in Romania since 1992, EY is the leader in professional services market, with over 800 employees on a local plan and in the Republic of Moldova.
TeraPlast Group recorded a 34% increase in revenue in 2024, reaching RON 897.9 million, compared to RON 672.3 million in 2023. This growth is generated by an increase in sold volumes, the launch of operations at the Opal stretch film factory, and the consolidation of results from companies acquired in 2024. EBITDA remained at a […]
The construction of the Cluj-Napoca subway began on Tuesday, February 25, with the consolidation work on the hill located in the area of station 2 in the Florești suburb. Once completed, the subway in Cluj-Napoca will be Romania's second, after the one in Bucharest. It will be 21 km long and include 19 stations. The current […]
Electric services group Hidroelectrica, the largest company on the Bucharest Stock Exchange (BVB), reported a net profit of RON 4.1 billion in 2024, down 35%, and revenues of RON 9.1 billion, 25% lower than in 2023, according to financial data published on Wednesday, February 26. Hidroelectrica said its results were influenced by the decline in […]
Medisprof Cancer Center has received approval for the Zonal Urban Plan (PUZ) for its new integrated oncology hospital in Cluj-Napoca, marking another step in the project estimated at a total of EUR 22 million. The approval paves the way for the construction phase, which is expected to begin in 2026 and take 24 months to […]
Romania’s High Court of Cassation and Justice has definitively rejected far-right politician Călin Georgescu's appeal, through which he requested the suspension of the declassified documents that served as the basis for the annulment of the presidential elections in December 2024. The lawsuit was filed at the Bucharest Court of Appeal by the Association for the […]
Update: Prime minister Marcel Ciolacu had his first reaction after Călin Georgescu was brought in for questioning at the Prosecutor's Office. He said that, given the tense electoral context, judicial bodies are obligated to present solid and impeccable evidence in the investigation that also involves a potential candidate in the May elections. He also reiterated […]
