IN BRIEF (Page 18)

Corporate donations to get tax breaks

China is considering greater tax deductions for corporate charitable contributions, according to revisions to a draft charity law submitted for a second reading at the National People's Congress Standing Committee's bimonthly session. The new draft says that if a company's philanthropic donations exceed deductions from its taxable income, the excess amount can be deducted from taxable income the following year. The revision was made to address a common complaint that tax concessions for businesses making large donations are not enough.

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