Budget 2023: Govt to extend 250% tax deduction for donations until 2026
Singapore will extend its tax deduction rate for donations for another three years until the end of 2026, as part of efforts to foster and sustain a spirit of giving.Deputy Prime Minister and Finance Minister Lawrence Wong said on Tuesday that this will be done although the tax deduction for donations at 250 per cent is already very high compared with other jurisdictions.
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