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  • Tax Incentives For CSR Activities - Mr. Yaacob Othman IRBM

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    Rajiv Thambotheran
    114 vizualizări17 pagini
    This document discusses tax incentives for corporate social responsibility (CSR) activities in Malaysia. It outlines how consumers view companies that support charity positively and are more loyal as a result. Common CSR actions include environmental sustainability, community involvement, and ethical marketing. The document then summarizes the various tax incentives available under Malaysian law for CSR activities, including single deductions, double deductions, pioneer status, and tax exemptions and deductions for donations to eligible nonprofit organizations and community projects in areas like education, health, infrastructure, and information technology. It provides details on the eligibility and types of projects and institutions that qualify for the different incentives.

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    Tax Incentives for CSR Activities IRBM

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    Tax Incentives for CSR Activities - Mr. Yaacob Othman IRBM

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    This document discusses tax incentives for corporate social responsibility (CSR) activities in Malaysia. It outlines how consumers view companies that support charity positively and are more loyal as a result. Common CSR actions include environmental sustainability, community involvement, and ethical marketing. The document then summarizes the various tax incentives available under Malaysian law for CSR activities, including single deductions, double deductions, pioneer status, and tax exemptions and deductions for donations to eligible nonprofit organizations and community projects in areas like education, health, infrastructure, and information technology. It provides details on the eligibility and types of projects and institutions that qualify for the different incentives.

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    © All Rights Reserved
    Descărcați ca PDF, TXT sau citiți online pe Scribd
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    114 vizualizări17 pagini

    Tax Incentives For CSR Activities - Mr. Yaacob Othman IRBM

    Încărcat de

    Rajiv Thambotheran
    This document discusses tax incentives for corporate social responsibility (CSR) activities in Malaysia. It outlines how consumers view companies that support charity positively and are more loyal as a result. Common CSR actions include environmental sustainability, community involvement, and ethical marketing. The document then summarizes the various tax incentives available under Malaysian law for CSR activities, including single deductions, double deductions, pioneer status, and tax exemptions and deductions for donations to eligible nonprofit organizations and community projects in areas like education, health, infrastructure, and information technology. It provides details on the eligibility and types of projects and institutions that qualify for the different incentives.

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    © All Rights Reserved
    Descărcați ca PDF, TXT sau citiți online pe Scribd
    Indicator pentru conținut neadecvat
    din 17

    2nd Korea Business Dialogue

    Corporate Social Responsibility

    Approval & Monitoring Division,


    Tax Policy Department
    Headquarters Inland Revenue Board Of Malaysia

    Tax Incentives For CSR Activities


    CSR - Consumer perspectives
    Consumer believe companies doing charity
    will receive a positive respond
    Somerville (2013) consumer loyalty and
    willing to spend on retailers that support
    charity

    Tax Incentives For CSR Activities


    CSR Common actions
    Enviromental sustainability recycling, waste management,
    water management etc
    Community involvement raising money for local charity,
    providing volunteer, sponsoring local event etc

    Ethical marketing- companies ethic to consumer, do not try


    to manipulate or falsely advertise to potential customer

    Tax Incentives For CSR Activities

    Introduction Of Tax Incentives

    Implementation Of Tax Incentives


    (a)
    (b)
    (c)

    Eligibility
    Types of projects / institutions
    Application

    Tax Incentives For CSR Activities


    (Income Tact Act 1967 ITA)

    Introduction Of Tax Incentives

    Single deduction section 33 ITA


    Double Deduction
    Promotional Investment ACT Pioneer
    Status etc MIDA
    Donation

    Tax Incentives For CSR Activities

    Introduction Of Tax Incentives


    Single deduction
    section 33 ITA
    wholly in the production of gross income from that
    source.
    Other section
    S 34(6)(i)-child care center
    S 34(6)(g), S 44(8)- library service
    S 34(6)(h)- Contribution to community
    S 34(6)(l) student scholarship
    S 44(9) provision for disable person
    6

    Tax Incentives For CSR Activities

    Introduction Of Tax Incentives


    Double Deduction
    SL1M project to enhance employability of
    underprivillage graduates (1 June 2012-31 Dis 2016)
    Exp on training in re-employing women professional
    on a career break (Ministry & Talent Corp)

    Tax Incentives For CSR Activities

    Introduction Of Tax Incentives


    Promotional Investment ACT Pioneer
    Status etc - MIDA

    Tax Incentives For CSR Activities


    Introduction Of Tax Incentives

    Tax Incentives by donation :


    (a) Institution / organization not operated for profit
    under subsection 44(6) of Income Tax Act 1967
    (b) Community / charity projects under section 34(6)(h) of
    Income Tax Act 1967

    Tax Incentives For CSR Activities


    Understanding Of Subsection 44(6) ITA 1967 :

    Tax Deduction - Donors


    Tax Exemption - Institution (Income
    except dividend)
    Only cash donation + official receipt
    Individual
    Company

    - deducted 7%
    - deducted 10%

    10

    Tax Incentives For CSR Activities


    Subsection 44(6) ITA 1967
    Eligibility to apply :
    Established in Malaysia

    Operated not for profit


    Conducted not for private interest

    11

    Tax Incentives For CSR Activities


    Subsection 44(6) ITA 1967
    Types of Institution - primarily not for profit :
    Hospital
    Benevolent
    University
    Public authority - research connected with causes,
    prevention or cure of disease in human beings

    government assisted - socio-economic research


    technical or vocational
    12

    Tax Incentives For CSR Activities


    Subsection 44(6) ITA 1967
    Types of Institution - primarily not for profit :

    Scholarship for an individual - educational/research


    Relief of poverty
    Conservation or protection of animals
    Maintain or assist a zoo, museum, art gallery
    Government assisted - problems in industrial
    Government assisted - national unity
    Conservation or protection of the environment
    International organization Privileges & Immunities
    13

    Tax Incentives For CSR Activities


    Understanding Of Section 34(6)(h) ITA 1967 :
    Eligibility to apply : Community / charity projects

    *Education
    *Health

    *Infrastructure

    *Housing

    *Communication

    *Info technology

    14

    Tax Incentives For CSR Activities

    Application
    Subsection 44(6) of Income Tax Act 1967
    IRB
    Section 34A of Income Tax Act 1967
    MOF

    15

    Tax Incentives For CSR Activities


    Further Information
    IRM website
    http://www.hasil.gov.my

    16

    Thank you

    17

    Tax Policy Department

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