Wednesday , January 27, 2021 |   05:41:26 IST
INTL TAXATION INTL MISC TP FDI LIBRARY VISA BIPA NRI
About Us Contact Us Newsletters
 
NEWS FLASH
 
 
TII SEARCH
 
 
   
Home >> News Brief
 

Taxation and philanthropy: Governments should strike the right balance, says OECD
By TII News Services
Nov 27, 2020 , Paris

    

Governments should continue providing support to the philanthropic sector while taking steps to safeguard tax systems and ensure that the activities of philanthropic organisations continue to align with the public interest, said the Organization for Economic Cooperation and Development (OECD).

In a new report titled, "Taxation and Philanthropy , "the international organisation reviews the tax treatment of philanthropic entities and charitable donations in 40 countries worldwide. It was produced in conjunction with the Geneva Centre for Philanthropy.

The report points out the significant impact of philanthropy – the non-profit sector represents as much as 5% of GDP in many countries and many nations provide tax breaks to encourage philanthropy. It suggests:

"Governments should continue providing tax support to the philanthropic sector while at the same time improving the design to maximise effectiveness."

The report also draws attention to emerging concerns in some countries that current practices could give a small number of wealthy donors disproportionate influence over how public resources are allocated. This concern is highlighted by the rise in the number of very large private philanthropic foundations established by ultra-high-net-worth individuals, who are able to channel substantial resources into the priorities of their choice, while significantly minimising their tax liabilities.

While risks of abuse should be addressed, this concern should not overshadow the overwhelmingly positive spillovers of philanthropy in general, according to the report.

"Philanthropy plays an important role in most countries, providing private support to a range of activities for the public good, and this is especially evident in the current context of the COVID-19 crisis," said Pascal Saint-Amans, Director of the OECD Centre for Tax Policy and Administration.

"Looking ahead, governments need to strike the right balance between safeguarding tax systems while continuing to provide support to the sector."

 
 
INTL TAXATION INTL MISC TP FDI LIBRARY VISA BIPA NRI TII
  • DTAA
  • Circulars (I-T Act, 1922)direksiyon dersi
  • Limited Treaties
  • Other Treaties
  • TIEAs
  • Notifications
  • Circulars
  • Relevant Sections of I-T Rules,1962
  • Instructions
  • Administrative Orders
  • DRP Panel özel direksiyon dersi
  • I-T Act, 1961
  • MLI
  • Relevant Portion of I-T Act,1922
  • GAAR Cami Halısı
  • MAP Masöz İstanbul
  • OECD Conventions
  • Draft Guidelines
  • DTC Bill
  • Committee Reports
  • FATCA bodrum
  • Intl-TaxationPenis Büyütme A
  • Finance Acts slotbar
  • Manual on EoI
  • Evden Eve Nakliya
  • Miscellaneous
  • Cost Inflation Index
  • Union Budget
  • Information Security Guidelines
  • APA Annual Report
  • APA Rules
  • Miscellaneous
  • Relevant Sections of Act
  • Instructions
  • Circulars
  • Notifications
  • Draft Notifications
  • Forms
  • TP Rules ba
  • APA FAQ
  • UN Manual on TP
  • Safe Harbour Rules
  • US Transfer Pricing
  • FEMA Act Kıl Dönmesi Tedavisi Ankara<
  • Exchange Manualbetgaranti
  • Fema Notifications meritro
  • RBI Circulars
  • Reports
  • FDI Approved konya escort
  • RBI Other Notifications
  • FIPB Review
  • FEO Act
  • INTELLECTUAL PROPERTY
  • CBR Act
  • NBFC Report
  • Black Money Act
  • PMLA Instruction
  • PMLA Bill baymavi
  • FM Budget Speeches
  • Multimodal Transportation eşya depolama
  • Vienna Convention islami sohbet
  • EXIM Bank LoC
  • Manufacturing Policy
  • FTDR Act, 1992
  • White Paper on Black Money
  • Posting Policy
  • PMLA Cases
  • Transfer of Property
  • MCA Circular
  • Limitation Act
  • Type of Visa
  • SSAs Sex İz
  • EPFO
  • Acts
  • FAQs
  • Rules
  • Guidelines
  • Tourist Visa
  • Notifications
  • Arbitration
  • Model Text
  • Agreements
  • Relevant Portion of I-T Act
  • I-T Rules, 1962
  • Circulars
  • MISC
  • Notification
  • About Us
  • Contact Us
  •  
     
    A Taxindiaonline Website. Copyright © 2010-2020 | Privacy Policy | Taxindiainternational.com Pvt.Ltd. All rights reserved.