​​​​​​​​​​​​​​​​​​​The following measures to encourage philanthropy and volunteerism were announced as part of Budget 2023 on 14 February 2023:

Extension of 250% tax deduction for donations to IPCs and eligible institutions
To continue to encourage giving, the Government will extend the 250% tax deduction for qualifying donations made to IPCs and other eligible institutions for another three years, i.e., for donations made during the period 1 January 2024 to 31 December 2026 (both dates inclusive).

Enhancement of the Corporate Volunteer Scheme
To continue supporting corporate volunteerism, Business and IPC Partnership Scheme will be enhanced into a broader Corporate Volunteer Scheme, and extended for three more years to 31 December 2026. First, the scope of qualifying volunteering activities will be expanded to include activities which are conducted virtually (e.g., online mentoring and tuition support for youths/children) or outside of the IPCs’ premises (e.g., refurbishment of rental flats). Second, the cap on qualifying expenditure per IPC will be doubled from $50,000 to $100,000 per calendar year. The enhancements will be made with effect from 1 January 2024. All other conditions of the scheme will remain the same.

More details on the above measures as well as the links to the relevant websites can be found at this Annex​.

More information on the Budget 2023 Statement may be found at this link​.