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  • IO Programme Office
    level of tax levied on organisations is not a function of their class of legal registration Instead automatic income tax exemption comes into effect when an organisation applies for and is granted charity status from the Commissioner of Charities Income tax exemptions for Charities All registered charities in Singapore are automatically exempt from income tax Societies Societies registered with the Registrar of Societies and associations registered as company limited by guarantee are exempt from income tax if surplus funds are from members contributions or if over 50 of gross revenue receipts are from members and are not tax deductible for members Societies are liable to tax on other sources of income e g interest income Foreign Charitable Trusts If a trust created solely charitable purposes has its assets funds completely from foreign companies individuals the income earned by the trust is exempt from income tax Further income derived by an approved trustee company from the provision of qualifying trust services for the FCT is taxed at a concessionary tax rate of 10 Non Profit Organisations which do not fall under any of the above categories may apply for tax exemption through an incentive scheme administered by the IO Programme Office

    Original URL path: http://io.sg/step_entity2.html (2012-12-22)
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  • IO Programme Office
    entity What are the common types of legal entities in Singapore for non for profit organisations What are the tax implications Can my organisation issue tax deductible receipts How much reporting can I expect The only organisations in Singapore allowed to issue tax deductible receipts are Institutions of a Public Character IPCs Donors contributing to these organisations get a double tax deduction Currently there is no provision for a single

    Original URL path: http://io.sg/step_entity3.html (2012-12-22)
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  • IO Programme Office
    school and receive an education Photo by Andrew Goodwin World Vision Philippines Register a legal entity What are the common types of legal entities in Singapore for non for profit organisations What are the tax implications Can my organisation issue tax deductible receipts How much reporting can I expect Societies companies whether limited by guarantee or shares branches of companies and trusts are required to submit annual audited accounts In

    Original URL path: http://io.sg/step_entity4.html (2012-12-22)
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  • IO Programme Office
    World Vision Philippines Get a Board of Trustees All registered charities in Singapore are required to appoint a Board of Trustees This Board must comprise of at least 3 trustees of whom at least 2 must be Singapore citizens or permanent residents What if I can t find Singaporeans What if I still can t find a suitable board For organisations that require aid in finding capable local Board members

    Original URL path: http://io.sg/step_trustee1.html (2012-12-22)
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  • IO Programme Office
    Photo by Andrew Goodwin World Vision Philippines Get a Board of Trustees All registered charities in Singapore are required to appoint a Board of Trustees This Board must comprise of at least 3 trustees of whom at least 2 must be Singapore citizens or permanent residents What if I can t find Singaporeans What if I still can t find a suitable board We understand that circumstances can make it

    Original URL path: http://io.sg/step_trustee2.html (2012-12-22)
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  • IO Programme Office
    Other purposes beneficial to the community with the following purposes explicitly recognised as charitable The advancement of health The advancement of citizenship or community development The advancement of arts heritage or science The advancement of environmental protection or improvement The relief of those in need by reason of youth age ill health disability financial hardship or other disadvantages and The advancement of animal welfare All charities in Singapore are governed

    Original URL path: http://io.sg/step_charity1.html (2012-12-22)
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  • IO Programme Office
    The advancement of health The advancement of citizenship or community development The advancement of arts heritage or science The advancement of environmental protection or improvement The relief of those in need by reason of youth age ill health disability financial hardship or other disadvantages and The advancement of animal welfare All charities in Singapore are governed by the Charities Act Details of the conditions application process and the application forms

    Original URL path: http://io.sg/step_charity2.html (2012-12-22)
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  • IO Programme Office
    register themselves as charities if their objectives are aligned as such Charity registration is open to Societies Companies Limited by Guarantee or Trusts whose purposes fall into 4 main categories The relief of poverty The advancement of education The advancement of religion Other purposes beneficial to the community with the following purposes explicitly recognised as charitable The advancement of health The advancement of citizenship or community development The advancement of arts heritage or science The advancement of environmental protection or improvement The relief of those in need by reason of youth age ill health disability financial hardship or other disadvantages and The advancement of animal welfare All charities in Singapore are governed by the Charities Act Details of the conditions application process and the application forms can be found on the Singapore government s Charity Portal Website Should I register as a charity My organisation is not exclusively charitable but does perform a social environmental good Should it be a charity How much reporting is there for Charities An annual report must be submitted within 6 months from the end of the financial year A Statement of Account should be part of the Annual Report for charities whose income or

    Original URL path: http://io.sg/step_charity3.html (2012-12-22)
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