Fund

SRS Approved Regulations

The Cabinet of Ministers of the Republic of Latvia has granted RTU Development Fund the rights (Regulations No 337 by the Cabinet of Ministers of 31.07.2001.) to pay scholarships from the fund assets without tax deduction. Scholarships that are paid according to the regulations developed by the Fund, which are registered with the State Revenue Service (SRS), are subject to tax exempt. The Fund has four SRS approved regulations on granting scholarships:

  • "Academic achievement Scholarship"
  • "Science and Research Achievement Scholarship"
  • "For Promotion of Practical Skills"
  • "For achievements in sport"

The Status of a Provider of Public Goods

The Ministry of Finance of the Republic of Latvia has granted the status of a provider of public goods to the Development Fund (Resolution No 61 of 22.04.2005.) with activity directions in support of education, science, culture and sports, which gives rights to the benefactors to get enterprise income tax rebate according to the Law on Enterprise Income Tax, Section 20.1.

  • The Ministry of Finance of the Republic of Latvia resolution“On Awarding the Status of a Provider of Public Goods to the Foundation “Riga Technical University Development Fund””
  • The Ministry of Finance of the Republic of Latvia resolution“On Awarding the Status of a Provider of Public Goods to the Foundation “Riga Technical University Development Fund”” for additional public goods provision activities.

RTU Development Fund

The foundation “Riga Technical University Development Fund” was established on 15 April 2002 and the statutory aim of the fund is to carry out activities aimed at providing public goods, attract donations and grants from organizations, legal entities and individualsin order to help tertiarytechnical education establishments, first of all, RTU, become modern centres of education, science and culture in Latvia.

 

The main tasks of the Fund are:

  • to promote the development of tertiary education in Latvia that meets social and market needs;
  • to promote the advancement of the level of education and training of new specialists;
  • to support the implementation of tertiary education institution development programmes not only for obtaining education, but also for conducting scientific research;
  • to award scholarships and allowances to students for studies, scientific work as well as for improvement of professional skills of the academic staff and employees.

 

The Fund is not a structural unit of RTU, but rather an independent organization – a legal entity, and it holds all the rights of a legal entity and liability according to the legislation of the Republic of Latvia and its statutes. The Fund statutes were registered at the Register of Enterprises on 26 April 2002 and reregistered on 1 March 2005.

 

The Ministry of Finance of the Republic of Latvia has granted the status of a provider of public goods to the Development Fund (Resolution No 61 of 22.04.2005.) with activity directions in support of education, science, culture and sports, which gives rights to the benefactors to get enterprise income tax rebate according to the Law on Enterprise Income Tax, Section 20.1.

 

The Cabinet of Ministers of the Republic of Latvia has granted RTU Development Fund the rights (Regulations No 337 by the Cabinet of Ministers of 31.07.2001.) to pay scholarships from the fund assets without tax deduction. Scholarships that are paid according to the regulations developed by the Fund, which are registered with the State Revenue Service (SRS), are subject to tax exempt. The Fund has three SRS approved regulations on granting scholarships. 

 

The Fund welcomes enterprises and individuals for cooperation to promote the development of education with joint efforts.

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