Ceiling of tax cuts for PLCs in community work now 7%


  • Nation
  • Saturday, 02 Sep 2006

The ceiling for tax deductions on contributions has been raised to 7% of aggregate income to encourage public listed companies (PLC) to participate in corporate social responsibility (CSR) programmes, especially contributions to charitable organisations. 

PLCs will also have to disclose their corporate social responsibility activities in order to inculcate the culture. 

The activities include providing business opportunities to domestic entrepreneurs, awarding contracts to bumiputra vendors and contributions towards the well-being of the rakyat, especially the less fortunate. 

Programmes for developing human capital, which the Government has identified, are the Adopt-A-School Programme, training of unemployed graduates and providing scholarships. 

The Adopt-A- School Programme includes making contributions to Parent-Teacher Associations, sponsoring excellent students from low-income families, providing equipment and facilities, and sponsoring tuition in English, Mathematics and Science. 

PLCs are not only encouraged to adopt charitable institutions such as welfare homes, orphanages, old folks homes, shelter homes, dialysis centres and drug rehabilitation centres but also to encourage their employees to participate. 

PLCs that practise CSR are likely to attract large domestic investors, especially the Employees Provident Fund (EPF) and National Pension Fund (KWAP), and international institutional investors.  

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Nation

Covid-19: Perlis, Sarawak and Labuan moving to Phase 3 of NRP
Covid-19: Sarawak records 411 cases on Monday (Aug 2), no casualties or new clusters
Seven detained in connection with security guard's murder
Pollution hits Sg Kim Kim in Johor again, DoE investigating cause
Fully-vaccinated Johor exco member tests positive for Covid-19
Police seeking 47 individuals involved in 'Keluar dan #Lawan' rally
Nazri challenges Anwar to name MPs who no longer support Perikatan
Five localities in Sabah, Sarawak and Kelantan under EMCO from Aug 4-17, says Hisham
Cement truck driver sought over fatal hit-and-run
All those involved in rally on Monday (Aug 2) to be called up, say police

Stories You'll Enjoy


Vouchers