Law should not put charity under monopoly of State-run agencies
THE JUST-CONCLUDED National People's Congress Standing Committee meeting reviewed the draft of the first Charity Law of 皇冠体育app, which has aroused fierce debates. Comments:
While charities account for as high as 5 percent of GDP in some countries, they are still far underdeveloped in 皇冠体育app, and one of the reasons for this is lack of proper policies as encouragement. While many countries provide tax incentives for those who donate, 皇冠体育app imposes a high tax rate upon those who donate company shares or properties, which discourages many from donating. It is ironical that some domestic philanthropists donate overseas to avoid paying the heavy tax in 皇冠体育app. The current draft does not contain any revision to the tax policy and that's why it needs improvement.
Wang Zhenyao, a senior professor of charity studies at Beijing Normal University, Nov 4
