The Income Tax Act, 2015 (Act 896), provides under subsection (2) of section 100 a list of worthwhile causes approved by Government that a person can deduct in the course of doing business.
Required:
Explain THREE (3) worthwhile causes and the basis of approval by the Commissioner-General of GRA? (3 marks)
View Solution
- Charitable Organisation
The organisation must be in possession of an unexpired written approval issued by the Commissioner-General in accordance with the section 97 of the Act.
(Refer also to the Practice Note of the Commissioner-General on Charitable Organisations). - A scheme or course of study
A scheme of scholarship for an academic, technical, professional or other course of study should be backed by a written attestation issued by the Minister for Education, confirming the scheme or course of study as a worthwhile cause for the purpose of section 100 of the Act. - Rural or Urban Development
An activity or event carried out for the purpose of the development of an urban or rural area should be backed by a written attestation issued by the Minister for Local Government, confirming the activity as a worthwhile cause for the purpose of section 100 of the Act. - Sports development or promotion
An activity or event carried out for the purpose of sports development or promotion should be backed by a written attestation issued by the Minister for Youth and Sports, confirming the activity as a worthwhile cause for the purpose of section 100 of the Act. - Other worthwhile cause approved by Commissioner-General. (Any 3 points)