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Tax breaks for businesses providing scholarships to high school and university students

The tax break is foreseen for scholarships lasting for at least 12 to no more than 24 consecutive months. This was decided with the adoption at second reading of the amended Corporate Income Tax Act.

The tax break will apply to fellowships offered to high or university students aged up to 25 years in the last two years of their regular education and on the condition that the education for which the scholarship is granted is to be useful to the business.  In addition the business profiting from the tax break is obliged to open a job for the same person who benefitted from the stipend for a period as long as the duration of the sholarship. The amendments in the law are to take effect as of 1 January 2014.

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