The Sponsorship will not be taxed

Deputy of the Supreme Council Oleg Vasilaty proposed not to tax the income of funds received by non-profit organizations in the form of sponsorship. This applies to those organizations that work in the sports, culture and education. In particular, this can be prize payments, transfer of funds or transfer of property from sports federations and organizations that hold sports events, competitions, cultural and educational activities. Such income is currently subject to taxation as it cannot qualify as charitable assistance.

For example, in practice it turns out that a sports school or a children's art school has to find additional funds from its own socially useful activities in order to pay income tax, which is charged on sponsorship.

The deputies consider that exemption from income tax in these activities will provide additional conditions for the development of organized leisure activities for young people in the sports, culture and education, strengthening the health of the younger generation, as well as reducing negative social phenomena in the youth environment. The Supreme Council adopted the law-in-draft in the final reading. The document was sent for signature to the President of the Pridnestrovian Moldavian Republic.