The Inland Revenue Authority of Singapore has published updated guidance on Donations & tax deductions, including new guidance on the Philanthropy Tax Incentive Scheme for Family Offices (PTIS) and the Overseas Humanitarian Assistance Tax Deduction Scheme. The latter is a pilot scheme recently introduced by the Income Tax (Amendment) Act 2024 for an initial period of four years from 1 January 2025 to 31 December 2028.
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Philanthropy Tax Incentive Scheme for Family Offices (PTIS) (N…