Corporate Income Tax: Approved Donations and Unutilised Donations

Описание: Donations are non-deductible expenses as they are not incurred in the production of income. However, your company can claim a tax deduction of 2.5 times the amount of approved donations made to an approved Institution of a Public Character (IPC) or to the Singapore Government for causes that benefit the local community.

Unutilised donations for a particular Year of Assessment (YA) arise when allowable donations made during the YA are more than the income for that YA. Unutilised donations can be carried forward for up to 5 YAs.

Watch this video or visit http://www.go.gov.sg/iras-business-ex... and
http://www.go.gov.sg/iras-unutilisedi... for more information.

This information aims to provide a better general understanding of taxpayers’ tax obligations and is not intended to comprehensively address all possible tax issues that may arise. While every effort has been made to ensure that this information is consistent with existing law and practice, should there be any changes, IRAS reserves the right to vary our position accordingly.

Visit https://www.iras.gov.sg for the latest information.

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