Global Impact and KPMG LLP release new report examining tax, fiduciary and philanthropic requirements in 60 countries
2018 Giving Global Matrix helps private and nonprofit sectors navigate complex regulations involved in global philanthropy
ALEXANDRIA, Va., Oct. 11, 2018 – Global Impact and KPMG LLP have released a new report, the 2018 Giving Global Matrix: Tax, Fiduciary and Philanthropic Requirements, which provides a snapshot of the complex and varied tax laws that incentivize, or disincentivize, philanthropic giving in 60 countries across North America, Latin America, Africa, Europe, Asia and the Middle East.
A similar report was first produced by the two organizations in 2015. The updated 2018 Giving Global Matrix expands the focus from 40 to 60 countries and broadens the scope of research in each country from four to 10 questions. The full report addresses:
- Whether a country’s tax code allows tax deductions for charitable contributions;
- If tax relief is available to individuals, organizations or both;
- If charitable donations are restricted to local entities or if they can be made to U.S. charities as well; and if the latter, the steps a U.S. charity must take to receive tax deductible contributions and associated filing requirements;
- And provides an overall assessment of the climate for philanthropy in each country.
“Increasingly corporations and charities are seeking to act locally as well as globally when it comes to their philanthropic engagement,” said Kathleen Lowenthal, Managing Director of Partner Solutions at Global Impact. “As more organizations expand their reach as part of their commitment to the Sustainable Development Goals and in response to increased disasters and crises globally, we are pleased to be able to provide this much needed resource.”
“In today’s global environment, this updated report provides timely information to nonprofit and private sector entities who want to understand the different approaches to philanthropy that geographic regions and countries are taking, and be able to plan their engagement more strategically," said Anita Whitehead, Tax Principal for KPMG’s Development and Exempt Organizations (DEO) practice.
The report offers several high-level takeaways that U.S. entities should consider when expanding their philanthropy globally:
- In-country tax regulations change frequently and, therefore, should be routinely revisited to ensure both compliance and favorable status;
- When operating programs or raising funds abroad, recipients and donors should be vetted to verify alignment with the mission and objectives of an organization;
- The culture of giving in each country is distinct and should be individually evaluated to confirm the ideal approach to implementing an organization’s philanthropic vision.
To download the summary, full or regional reports, visit https://charity.org/2018-giving-global-matrix. For information about Global Impact’s and KPMG’s services supporting organizations looking to expand their global philanthropic engagement, contact [email protected] and [email protected].