An overview by Withers KhattarWong, Taxand Singapore
Singapore has introduced a new Philanthropy Tax Incentive Scheme for Single Family Offices (SFOs). Under these changes, qualifying donors in Singapore can claim a 100% tax deduction for eligible overseas donations made through qualifying local intermediaries.
In addition, adjustments have been made to the fund tax exemption for new SFOs to further promote capital deployment to benefit Singapore and the region, including contributions towards environmental and social causes.
Stacy Choong, Lian Chuan Yeoh, Yee Hoong Chua, Yong Sheng Hon, Samantha Ng, and Zenzel Chew, of our Singaporean firm, Withers KhattarWong, discuss these changes and more.
Read the full alert here.
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