Nation to deduct tax for donations

Nation to deduct tax for donations: "Nation to deduct tax for donations
(China Daily)
Updated: 2006-07-22 09:28

The Ministry of Finance and the State Administration of Taxation yesterday reiterated through the media their tax deduction policies for donations to charities.

It is a move that should be welcomed because the policies have not been well publicized.

However, more needs to be done to build a legal framework for donations and make it known to the public.

China enacted a law on donations to public welfare in 1999 detailing the rights and obligations of donors, beneficiaries and organizations managing donated money.

But the country has not yet set detailed rules and regulations governing the everyday aspects of welfare donations."