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Singapore Updates Guidance on Donations and Tax Deductions

24 March 2021

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Approved Changes

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Singapore

The Inland Revenue Authority of Singapore updated its guidance on Donations and Tax Deductions on 19 March 2021. This includes a notice that the 250% tax deduction for qualifying donations will be extended for another two years till 31 December 2023. In addition, new e-Tax guides have been published regarding the tax treatment of donations with benefits, including a revised guide for Donations made before 19 March 2021 and a new guide for Donations made on or after 19 March 2021. The latter guide includes an update on concessionary tax treatment that allows donations with benefits to be treated as...