A third of Romania's profitable companies redirect profit to social causes

One in three local companies that recorded profit in 2016 decided to redirect 20% of their profit tax to social causes, according to data provided by the National Tax Agency (ANAF) at the request of Salvati Copiii Romania NGO. Almost 119,600 Romanian companies recorded profit last year, and around 39,000 decided to donate to social causes. Less than 10% of the total profit tax was used to support non-profit projects, namely about RON 1.2 billion (EUR 264 million) from RON 14.8 billion (EUR 3.2 billion). The number of companies donating to social causes increased compared to 2015, when only one in five profitable companies directed 20% of their profit tax to charity. Thus, some 28,500 companies donated RON 554 million (EUR 120 million). The Romanian law allows companies to redirect 20% of their profit tax to non-profit organizations and social causes. editor@romania-insider.com