IPCs have been authorised to issue tax deduction receipts. Upon receiving the tax deductible donations, the IPCs should issue tax deduction receipts to the donors. IPCs should have documented policies and procedures in place to ensure that tax deduction receipts are issued for qualifying donations received by the IPC and appropriately authorised by the IPC prior to issuance.
A tax deduction receipt should contain or incorporate the following with effect from 1 Jan 2011 :
IPCs can also use the electronic medium provided by the Inland Revenue Authority of Singapore (IRAS) to issue the tax deduction receipts.
These records must be kept for at least 5 years from the end of the year of assessment relating to the year in which the donation was received.
For more information on the various types of donations which will qualify your IPC for tax deduction, please visit the Inland Revenue Authority of Singapore (IRAS) website.