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Singapore Provides New Guidance on Philanthropy Tax Incentive Scheme for Family Offices and Overseas Humanitarian Assistance Tax Deduction Scheme

|Approved Changes|Singapore
Singapore

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 Janu…

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