Bigger tax benefits proposed for donors
China’s lawmakers are proposing that increased tax reductions be given for charitable donations to encourage more contributions.
Su Xiaoyun, a member of the Standing Committee of the National People’s Congress who also worked for civil affairs authorities for more than 10 years, said that tax benefits are key to improving a country’s charitable sector.
“If someone or some organization cannot be given a tax deduction, the motivation to donate will be reduced,” Sun said.
Lawmakers agreed to push forward the charity law as soon as possible.