With the festive season approaching, a lot of entities make donations as part of their corporate social responsibility programs or provide assistance in the form of donations where a need arises.
Tax First Newsletter
A monthly newsletter published by PwC Namibia providing informed commentary on current developments in the local tax and business arena. Our analysis and comments on new law and administrative changes assist business executives to identify developments and trends in law and Inland Revenue practice that might impact their business.
Tax First Newsletter - December Issue
Deductibility of donations With the festive season approaching, “t’is the season to be giving, Fa la la la la, la la la la…” A lot of entities make donations as part of their corporate social responsibility programs or provide assistance in the form of donations where a need arises. Generally donations are not deductible, but section 17(1)(s) of the Income Tax Act, 1981 (Act 24 of 1981) allows for the deduction from taxable income of amounts donated by a taxpayer to a welfare organisation or an educational institution during a year of assessment.
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