A NEW initiative to incentivise companies to send their staff for volunteer work will be piloted this July, with firms able to get a 250 per cent tax deduction on associated costs incurred.

Under this Business and IPC (Institution of a Public Character) scheme, the deduction will be subject to an annual cap of S$250,000 per business and S$50,000 per IPC.

This will benefit businesses which organise their employees to volunteer and provide services to IPCs, including secondments. The scheme will run from July 1 this year to the end of 2018.