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A Charitable Foundation is a Trust created by a Settlor to benefit the community with the purpose of relief of poverty and advancement of education, religion or some other public benefits, regardless of race, creed, religion or gender.
It requires incorporation with the Companies Commission of Malaysia with a minimum seed fund of RM1 million put into a Trust approved by the Ministry of Finance.
It is allowed to solicit public donations, and may be granted tax exemption (for the foundation) and tax relief (for donors) by the Inland Revenue Board, subject to suitable charitable activities carried out by the foundation.
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