Malaysia: Tax treatment of charitable donations (COVID-19)

Malaysia: Tax treatment of charitable donations

The Ministry of Finance clarified the tax deductible treatment of donations of cash or donations in-kind made to a program established by a charity or community project to address the coronavirus (COVID-19) pandemic.

1000

Related content

Taxpayers may file claims for deductible treatment of donations pursuant to section 34(6)(h) of the Income Tax Act, 1967 by submitting an application to the Ministry of Finance. Donations and contributions made to approved charity and community projects will be allowed as deductions that can be applied against the gross business income of the donors.   

When no application is made, a tax deduction can be claimed on these donations, under section 44(6) of the income tax law.

Read an April 2020 report prepared by the KPMG member firm in Malaysia

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal