Tax deductions for Food Bank donors to begin in 2027

KOTA KINABALU: Starting from January 1, 2027, and running until the end of 2030, donors to the Ihsan Food Bank Initiative (i-FB) will be able to claim special tax deductions. Minister of Domestic Trade and Cost of Living, Datuk Armizan Mohd Ali, revealed that this incentive aims to boost involvement from businesses, volunteer groups, and other key allies who support those who are struggling.

The incentive is part of 44 tax reliefs announced in the 2027 Budget, following approval from the Prime Minister and Finance Ministry. Armizan explained that the incentive acknowledges and promotes donations of food, equipment, and operational assistance to enhance the i-FB program. This measure aligns with efforts to fortify the food bank network through coordinated efforts that expand participation opportunities for various entities.

Armizan disclosed that the special tax deduction is one of several measures introduced to widen the scope of strategic partners' involvement. The specifics of the incentive's operational framework will be discussed with the Finance Ministry. The i-FB is one of several initiatives tackling cost of living issues through a nationwide strategy that includes government bodies, businesses, non-profit organizations, and individuals.

Under the ministry's Cost of Living Division, the initiative follows the 3S approach — community support, environmental stewardship, and food preservation.