What is Philanthropy Tax Incentive Scheme?
The Philanthropy Tax Incentive Scheme (PTIS) is an incentive scheme administered by the Monetary Authority of Singapore.
It is eligible for cash donations made by qualified Single Family Offices in Singapore for any charitable, benevolent, or philanthropic purpose to benefit persons, events, or objects outside of Singapore.
The donors can claim 100% tax deduction for their overseas donations made through Qualified Local Intermediaries, such as CHARIS. The tax deduction is capped at 40% of the donor’s statutory income.
How do I make a donation under this scheme?
Please email Ivan at ivan.tay@charis-singapore.org for assistance.
We will require you to provide us with the following documents:
- PTIS Letter of Award (LOA)
- ID/Company Registration (ACRA) Documents
Subsequently, you will receive a PTIS donation acknowledgement receipt.
If you have any questions on making a PTIS donation, please email Ivan at ivan.tay@charis-singapore.org or Ryan at ryan.awyong@charis-singapore.org. Alternatively, you may call us at 6337 4119.
For tax matters, please consult a practising tax adviser for your organisation's tax planning needs.