USEUROPEAFRICAASIA 中文双语Français
Home / Comment

Law should not put charity under monopoly of State-run agencies

China Daily | Updated: 2015-11-05 07:52

THE JUST-CONCLUDED National People's Congress Standing Committee meeting reviewed the draft of the first Charity Law of China, 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 China, and one of the reasons for this is lack of proper policies as encouragement. While many countries provide tax incentives for those who donate, China 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 China. 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

Law should not put charity under monopoly of State-run agencies

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US