Tax Alert: July 2012

The Minister of Finance recently modified the Fifth Schedule to the Companies Income Tax Act effective from 12 December 2011. In addition to the existing bodies eligible for tax deductible donations listed in the Act, more institutions, bodies or funds engaged in the following broad categories of activities are to enjoy tax deductible donations provided such organisations are not set up for the purpose of profits or gains to the individual members of the society, association or person.

  • Promotion or defence of human rights
  • Women empowerment and development
  • Re-orientation, rehabilitation, welfare support service for orphans, widows, physically challenged, refugees and all categories of persons that may require social or economic rehabilitation and transformation
  • Youth empowerment and development
  • Leadership and Resource Development
  • Promotion of National Unity and Patriotism
  • Promotion of Social and Economic Development
  • Accident prevention and control activities
  • Information system development and awareness
  • Creation of awareness for transparency in governance and electoral processes
  • Promotion of national unity and patriotism
  • Museum development and promotion of sports, arts and culture
  • Rendering assistance in the provision of safe water, electricity, infrastructure and agricultural development

Download the full Tax Alert here