Singapore legislation

Regulation 9

of Income Tax (Grant-Making Philanthropic Organisations) Regulations 2009

Regulation 9

Maintenance of records

Subregulation 1

Every registered grant-making philanthropic organisation shall keep proper and comprehensive accounts and other records in respect of tax deductible donations received and shall do all things necessary to ensure that all payments out of the receipts are correctly made and properly authorised.

Subregulation 2

The record shall include —

(a)

in respect of every tax deductible donation received —

(i)

the receipt number of tax deduction receipt issued under regulation 8;

(ii)

the name and identification number or corporate or business registration number, of the donor;

(iii)

the date of receipt of the donation;

(iv)

the amount of donation received; and

(v)

the specific institution of a public character to which the tax deductible donation is to be made, if applicable;

(b)

in respect of tax deductible donations disbursed —

(i)

the date of disbursement;

(ii)

the amount disbursed; and

(iii)

the institution of a public character to which the disbursement is made; and

(c)

details of all the income received and the expenses incurred in respect of the designated IPC fund.

Read in full context — Income Tax (Grant-Making Philanthropic Organisations) Regulations 2009 →