Finance: China releases tax breaks
(Shanghai Daily)
Updated: 2006-07-20 15:43
To encourage more donations to charitable organizations, the Ministry of
Finance and the State Administration of Taxation will allow five different forms
of tax-deductible donations from individuals, corporations and institutions,
Beijing News reported today.
For example, if a person earns 10,000 yuan (US$1,250) every month and donates
5,000 yuan to appointed organizations, they needn't pay tax for the donated
part.
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