Page 63 - Ekonomija i Biznis_noemvri 2016.indd

REGULATIONS
humanitarian disasters. Recipient of spon-
sorship can also be a national legal entity
who, on the basis of the received sponsor-
ship, performs the obligations which arise
from the agreement on sponsorship.
The publication of the name, the com-
pany and the trademark of the donator of
the donation and the sponsorship in public,
printed and electronic media is not consid-
ered a commercial.
What is most important is that the
Law stipulates specific tax incentives in per-
sonal income tax, in capital gains tax, in val- to the members and to their close people.
ue added tax and in property taxes.
A natural person who donates funds to
a legal entity, and on the basis of the agree-
ment of donation, has the right to a reduc-
tion of calculated, and unpaid personal in-
come tax or return of paid personal income
tax determined on the basis of his annual tax
return in the amount of the donation, how-
ever not more than 20% of the amount of
his annual personal income tax, and maxi-
mum 24.000 denars. Personal income tax is
not paid for income based on received dona-
tions.
For the tax payer of capital gains tax who
donated funds to a legal entity, the amount
of the given donation in the current year
is recognized as an expense in an amount
of 5% of the total income. To a tax payer of
capital gains tax who sponsored funds for a
legal entity, the amount of the given spon-
sorship in the current year is recognized as
an expense in an amount of up to 3 percent
of the total income.
When a recipient of a donation gets funds
and uses them for the payment of procure-
ments of goods and services in order to real-
ize the public interest, the calculated value
added tax in the invoice for the sale of goods
and services issued to the recipient of the do-
nation and paid by the supplier of the sale to
a separate account in the Budget of the Re-
public of Macedonia, is returned to the sup-
plier of the sale on the basis of a delivered
request from the recipient of the donation.
For payment of VAT, which is calculated
in the invoice for the sale and paid by the
supplier of the sale of goods and services to
a separate account in the Budget of the Re-
public of Macedonia, funds from the Budget
of the Republic of Macedonia are provided.
The paid tax is returned to the supplier of
the sale on the basis of a delivered request
by the recipient of the donation. The sale of
goods and services from the donator to the
recipient of the donation, performed for re-
alization of a donation of public interest, is
considered a sale of goods with a compen-
sation to take goods which are part of the
property of the enterprise for personal needs
of the tax payer or of his employees or for
other purposes which are not related to his
economic activity; as sale of goods without
a compensation by companies and other as-
sociations of people to their owners of share,
The following is exempt from VAT not-
withstanding the right to deduction of the
previous tax: service for a right to enter a
cultural, sports and other public event if the
entire income is intended and used for fund-
ing an activity of public interest and a ser-
vice by a telecommunication operator which
provides donation of funds for funding an
activity of public interest.
The donation in items and material goods
is exempt of inheritance and gift tax when
the donator transfers the right to usufruct
and use to the recipient. A donation in items
and material goods is exempt from property
tax in the following five years after the year
when the donation is given.
To a foreign legal entity and natural
person, at his request, the Public Revenue
Office issues a document wherewith it is
confirmed that the legal entity or natural
person donated or sponsored an activity of
public interest.
Tax incentives cannot be realized when
the donation and the sponsorship are used
for: activities for support of political parties
and party campaigns and for giving from en-
terprises to other enterprises.
The law allows, and practice shows that
the social responsibility of natural persons
and legal entities can be effectively realized
with donation and sponsorship in public ac-
tivities, which contributes for the improve-
ment of the personal and the common life
of the citizens, the associations of citizens
and foundations, the natural persons and
legal entities in the Republic of Macedonia,
as well as for their economic wellbeing and
social justice.
November 2016 63