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What new rules on tax exemption mean for charitable organisations
In case a charitable organisation is involved in business activities, such income is only exempt from income tax if is applied solely to charitable purposes.
Charity and charitable activities play an essential role in society. That is way the government has provided certain incentives to encourage private sector participation in charitable activities. The law allows organisations that provide donations to deduct against their income such donations subject to certain conditions.
The Treasury recently gazetted the Income Tax (Donations and Charitable Organisations Exemption) Rules, 2024, revoking the Income Tax (Charitable Donations) Regulations, 2007.
