The Philanthropy Tax Incentive Scheme (PTIS) is administered by the Monetary Authority of Singapore. It was introduced to encourage family offices operating in Singapore to conduct philanthropy activities outside of Singapore.
The scheme is eligible for cash donations made by qualifying Single Family Offices in Singapore for any charitable, benevolent, or philanthropic purposes outside of Singapore. Donors can claim a 100% tax deduction for their overseas donations made through Qualified Local Intermediaries. The tax deduction is capped at 40% of the donor’s statutory income.
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