Singapore MAS Tharman Shanmugaratnam on Philanthropic Contribution by Family Offices: Do not Track Philanthropic Contribution by Family Offices But Studying if Tax Incentives Could Encourage Philanthropic Activity or Impact Investing
10th May 2023 | Singapore
Singapore central bank Monetary Authority of Singapore (MAS) Tharman Shanmugaratnam (Senior Minister & Minister in charge of MAS) reply on philanthropic contribution by family offices in Singapore – Do not track philanthropic contribution by family offices but studying if tax incentives could encourage philanthropic activity or impact investing. Singapore MAS Tharman Shanmugaratnam: “The Family Office Development Team (FODT) does not track the amount of contributions family offices make to philanthropic activities. MAS continually reviews the conditions of the tax incentive schemes for single family offices to ensure that they contribute to Singapore. We are studying whether tax incentives could be used to encourage philanthropic activity or impact investing.” See below for MAS statement
” Do not Track Philanthropic Contribution by Family Offices But Studying if Tax Incentives Could Encourage Philanthropic Activity or Impact Investing “
Singapore MAS Tharman Shanmugaratnam on Philanthropic Contribution by Family Offices
9th May 2023 | Written reply to Parliamentary Question on philanthropic contribution by family offices
To ask the Prime Minister (a) whether the Family Office Development Team tracks the amount of contributions which family offices contribute to philanthropic activities each year; (b) if so, what is the total amount of contributions in each of the past five years; and (c) whether annual contributions to philanthropic activities in Singapore can be included in the criteria for family offices, together with clear and specific conditions.
Mr Tharman Shanmugaratnam, Senior Minister and Minister in charge of MAS:
1. The Family Office Development Team (FODT) does not track the amount of contributions family offices make to philanthropic activities.
2. MAS continually reviews the conditions of the tax incentive schemes for single family offices to ensure that they contribute to Singapore. We are studying whether tax incentives could be used to encourage philanthropic activity or impact investing.
Sign Up / Register
Caproasia Users
- Manage $20 million to $3 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 11,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2024 Investment Day
- March 2024 - Hong Kong
- March 2024 - Singapore
- July 2024 - Hong Kong
- July 2024 - Singapore
- Sept 2024 - Hong Kong
- Sept 2024 - Singapore
- Oct 2024 - Hong Kong
- Nov 2024 - Singapore
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Institutional Investor Summit
- The Investment / Alternatives Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
