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FAQ : Fund, Zakat and Waqf - Tax Incentives

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  • FAQ : Fund, Zakat and Waqf - Tax Incentives

FREQUENTLY ASKED QUESTIONS (FAQ)

The following frequently asked questions are common among those contemplating Universiti Malaya (UM). This page provides answers to these questions and provides links to useful UM websites that provide additional answers.

AccountBudgetCash Fund, Zakat and Waqf Payment eProcurement Student Finance & College
 

FUND, ZAKAT AND WAQF

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What are the tax incentives available for the cash contribution/donation to UM?

Contributions/Donations are tax deductible if they fulfilled the criteria set under the Income Tax Act 1967. In general, the following subsections of ITA 1967 suggest the tax incentives available for contribution/donations to UM.
Section Type of Donation
44(6) Cash donations
44(11D) Cash Endowment/Waqf
34(B) Cash contribution to an approved research institute or payment for use of services of an approved research institute or company
Contributors with business income are entitled to a deduction from gross business income on the contributions made under Section 34(6)(h) of the Income Tax Act 1967 which caters for contributions to a charity or community project approved by the Minister of Finance (MOF). The application is on “case-to-case” basis subjected to the approval by MOF.

Last Update: 13/01/2022