Tax Academy of Singapore’s Post

Ramadan Day 22: Types of Waqf Discover the diverse forms of Waqf, a cornerstone of Islamic philanthropy and social welfare. From charitable endowments supporting education and healthcare to those benefiting the needy, Waqf exemplifies the spirit of giving and community empowerment. This Ramadan, delve into the different types of Waqf and learn how they continue to make a lasting impact, embodying the principles of compassion and solidarity in Islamic finance. #RamadanReflections #IslamicFinance #Waqf

In Islam, Zakat holds a profound significance, and extends beyond just charity. It is a pillar that emphasises our shared responsibility towards those less fortunate in the UK 🇬🇧      It is our duty as Muslims to make sure we are having a solid impact on those around us, and Zakat is the pillar that reminds us we have a shared responsibility towards those less fortunate.     It’s only 2.5% of your profits because it’s not supposed to be a burden. It is a benefit that Allah has bestowed on the giver. By giving Zakat, not only are we helping someone in need, we are purifying our wealth, and collectively contributing to the well-being of our community.    Zakat is not just a duty; it's a commitment to social justice and welfare. It reinforces the bonds of our community, fostering a sense of solidarity among Muslims.     By donating your Zakat through the National Zakat Foundation, we actively address poverty, seeking ways to help our Muslim brothers and sisters that are struggling in the UK.     Consider the impact your Zakat can make to the National Zakat Foundation nzf.org.uk    #Zakat #Ramadan #MuslimCommunity

Charities have warned that over half a million children will go hungry during school holidays from the October half-term if the government doesn't renew a £1bn local welfare crisis fund that is due to end in only six weeks’ time 💔 Last year, this fund provided essential support, like food vouchers for pupils on free school meals, but its potential end threatens to plunge thousands of families into deeper financial hardship 📉 Without it, local food banks and crisis services, already stretched thin, may struggle to keep up with the growing demand. We must act now to ensure no child goes hungry 💔 Help us to continue raising awareness about food poverty, and if you can, support your local food bank through Bankuet to provide immediate relief for families in need 👉 bankuet.co.uk/givenow

Government allocates Rs.2 billion to Pakistan Bait-ul-Maal to resolve 28,000 pending applications for medical treatment, education, and financial assistance. This funding aims to clear monetary inconsistencies and support the poor and needy across Pakistan. The allocation will also address 13,000 pending medical cases and settle overdue wages for employees. The move comes after issues with unauthorized fund transfers and unreturned funds. Read more at https://lnkd.in/dz3cv7Bp #PakistanBaitulMaal #GovernmentFunding #Charity #Welfare #FinancialAssistance #MedicalAid #EducationSupport #Philanthropy #PublicWelfare #SocialSupport #Aid #CommunityHelp #FundAllocation #PakistanNews #GovernmentInitiative #SocialJustice #FinancialHelp #Healthcare #Education #NonProfit #CharitableGiving #SupportTheNeedy #AidForAll #PhilanthropyMatters #WelfarePrograms #PublicService #WelfareInitiative”

The charity sector is poised for significant change alongside the new Labour government - but how so? We can anticipate a renewed focus on social welfare, community support, and tackling inequality, which may bring increased funding opportunities for charities working in these areas. However, with potential shifts in policy, charities will need to ensure these align with new priorities while advocating for the causes that matter most to their communities. It's certainly an exciting time, but also one that requires strategic adaptation from the sector to make the most of the evolving landscape. Thoughts?👇

Charity, Donation and Sadaqat: Social justice and welfare is one of the core concepts emphasized by Islam. It encourages its followers to strive to ensure communal prosperity. Helping those with scarcity of wealth and resources is an essential step which must be undertaken to do so. Hence, Islam renders great importance to charity. Muslims are bound to give a sum of money as charity in their daily lives with a firm belief that their contribution will ensure Allah’s goodwill and communal well-being. Zakat is obligatory for every Muslim in his or her wealth. Every Muslim should contribute towards human resource development. We encourage people who have financial stability to give additional charity in the form of Sadaqat Jariyah. In contrast to Zakat, Sadaqat Jariyah is a form of ongoing voluntary charity that helps recipients build a better future and provides them with financial relief in the present. Instead of simply donating food and water, giving Sadaqat Jariyah provides beneficiaries with the opportunity to create an income for their families on much long-term basis. This ongoing charity rewards both donors and recipients not just in this world but also in the hereafter. Anas Bin Malik narrates it that the Prophet Muhammad, Sallallahou Alayhe Wasallam said: Verily charity appeases the wrath of Almighty Allah and eases the sufferings of death.  (Tirmidhi)

SEBI has proposed to the government to amend the Companies Act, 2013, to include donations made through 🪙 Social stock exchanges (SSEs) as part of CSR activities. What are SSEs🪙 : ✅SSEs are platforms within stock exchanges where non-profit organizations focused on social welfare can list to raise funds. 🔶 Both BSE and NSE operate Social stock exchanges. Benefits ➔ 🔳 SSEs will give credibility and visibility to social enterprise▪️ 🔳 Increasing transparency in the social sector▪️

We recently received a case of an 18 year old beneficiary (Beneficiary public code: 38130831LOT) referred by Malaysia Welfare Department KL (JKMWPKL) who recently lost both parents. He has younger siblings who are at the risk of being sent to orphan homes. He was forced to abandon his undergraduate studies because he chose to care for his younger siblings. If anyone would like to help him ease his financial burden of having to suddenly care for three younger siblings, we invite public or corporate donors in order to give him RM2,500 per month for 6 months, to get him settled and hopefully continue with an online tertiary education. Beneficiary 38130831LOT is a verified beneficiary on GoBarakah.com. For any enquiries please email help@gobarakah.com If you'd like to help him and his siblings, please follow these steps: 1) Go to this link: https://lnkd.in/gTdNFxPx 2) Choose how much to donate (any amount would help). 3) Choose Voucher Type- Cash Assistance, Grocery or Back-To-School or choose all. 4) Add to Cart and Pay ❗️Please key in the Purchase Order column the beneficiary public code: 38130831LOT❗️ 5) Once your payment is completed, team GoBarakah will assign your donation to beneficiary 38130831LOT 6) As a donor, you will receive a notification email when your donation has been assigned and sent to the beneficiary's phone/email. 7) The beneficiary will be notified instantly and can withdraw your voucherized cash donation to their verified bank account within 24 hours, or if a grocery e-voucher is assigned, he can redeem it at Mydin or any participating grocer. GoBarakah facilitates secure and traceable giving by voucherizing all donations through the platform, to be sent to beneficiaries (verified individuals, organizations, programme owners, mosques etc). Beneficiary public codes are unique identifiers that protect the beneficiaries' sensitive data. May your generosity be rewarded 🙏 *Team GoBarakah* #impact #socialassistance

Democracy is a form of government that advocates for the rights of its citizens and for their voices to be heard in decision making process of the Nation. Today, we are able to enjoy a democratic government because of our older generation who fought to make it possible. We can not talk about a democratic government without regarding the battles fought by our heros (our older citizens) that made it a reality. While we celebrate the democracy of our dear Nation, we ought to recognize our older persons as full members of the society whom are also entitled to the benefits of the fundamental human right. It is our duty as the younger generations and members of the society to advocate for an inclusive system where our elders are being included and their rights met. 🥂Cheers to a democratic government! 🥂Cheers to a system that includes the rights of the elderly citizens! Happy Democracy Day, Nigeria! ............................................................... We know you are inspired by the work we do in providing healthcare services and social welfare relief materials to the most vulnerable older persons in rural communities. You can support us through your donation to the account details: 1428021842 Azar Initiative Empowerment for the Less Privileged Access Bank Your support helps us change lives one elderly person at a time. 👍Like and follow if you believe in giving back to our elders. ✨Support our cause by donating, volunteering and partnering with us. 📢Help spread the word by sharing to everyone. 👉Together, we can make a difference! #AzarInitiative #sustainabledevelopmentgoals. #sdg3 #ElderCare #SupportSeniors #CharityOrganisation #NonProfit #SocialImpact #AgingWithDignity #EmpowerTheElderly #MakeADifference #HealthcareForAll

Under Section 80G of the Income Tax Act in India donations to determined magnanimous associations fit the bill for charge exclusions. Givers can guarantee derivations from their available pay for the gave sum dependent upon specific cutoff points and conditions. This arrangement empowers altruism by diminishing the benefactor's general expense risk and supporting social government assistance drives. It's fundamental to guarantee donations are made to associations having a legitimate 80g certificate given by the Income Tax Department to profit of these advantages encouraging straightforwardness and responsibility in the donation process. #12aregistration #80gdonation #80gdeduction #80gcertificate #80g #section80g https://lnkd.in/gua_xzcY