Monday Nov 25, 2024
Monday Nov 25, 2024
Wednesday, 27 September 2023 00:05 - - {{hitsCtrl.values.hits}}
The Government has decided to approve amending the Inland Revenue Act to support charitable initiatives.
The proposed amendment aims to enable legitimate charity organisations that collaborate with Government health and education services to request tax relief.
These organisations, dedicated to prioritising the well-being of differently-abled children in society, will be eligible for tax benefits under the amended provisions.
However, to qualify for these tax benefits, charity establishments must meet specific criteria such as established as legitimate institutions and registered under relevant laws governing social services organisations.
The Cabinet approved the resolution proposed by the acting Finance, Economic Stabilisation and National Policies Minister at its meeting on Monday.
