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Taxation preference urged for charity donors

Xinhuanet 2003-03-05 09:30:57

¡¡¡¡BEIJING, March 5 (Xinhuanet) -- Preferential treatment in taxation should be given to charity donors who make significant contribution to society, a top political adviser was quoted by Wednesday's China Daily as saying.

¡¡¡¡Xu Dexin, vice-president of China Welfare Institute and member of the 10th National Committee of the Chinese People's Political Consultative Conference (CPPCC), said the funding problems of the nation's charities are partly due to the country's taxation system. ¡¡¡¡

¡¡¡¡According to China Business Times, out of the 1.2 billion yuan (145 US dollars) collected by the China Charity Federation in the past seven years, only 30 percent was from the mainland.

¡¡¡¡Xu, also in charge of the Shanghai Soong Ching Ling Foundation,said reducible tax for donors can be regarded as an award and can encourage both entrepreneurs and the public to contribute to charities.

¡¡¡¡Xu also said such a measure can help build a civil society.

¡¡¡¡Xu and other CPPCC members also called for the society to appreciate the role of affluent people. The newspaper said a number of affluent people are concerned that giving to charity will draw attention to their wealth and put them at risk of extortion. Enditem

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