There’s a saying by Charles de Lint…
“Every time you do a good deed you shine the light a little farther into the dark. And the thing is, when you’re gone that light is going to keep shining on, pushing the shadows back.”
These quotes is applicable to the Government’s incentive in reducing the burden of the tax payers where the Inland Revenue Board of Malaysia has issued a tax deduction incentive for COVID-19.
For those tax payers who donate or contribute to the fund in the COVID-19 Fund by the Ministry of Health Malaysia and/or by the Prime Minister’s Department or any institution/organization approved under Subsection 44(6) of Income Tax Act 1967 are entitled to have tax deduction.
However, there are few things tax payers need to take note after donating which is:
- For donation of non-cash items, the donors must obtain a letter from the recipient with an official stamp according to the format by the Ministry of Finance;
- Maintain records evidencing their donations when claiming deduction for tax assessment 2020.
