[nasional_list] [ppiindia] 99% of Chinese firms never donate to charity

From: "Ambon" <sea@xxxxxxxxxx>
To: <"Undisclosed-Recipient:;"@freelists.org>
Date: Mon, 21 Nov 2005 21:31:54 +0100
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**http://news.xinhuanet.com/english/2005-11/21/content_3814522.htm

      99% of Chinese firms never donate to charity 
     
      www.chinaview.cn 2005-11-21 23:28:32 


      Charity groups urged to maintain high credibility 

          BEIJING, Nov. 21 (Xinhuanet) -- No more than 100,000 Chinese 
companies, a merely one percent of the country's total ten million registered 
firms, have had a history of making donation to charity, said Chen Xinnian with 
the National Development and Reform Commission. 

          But the rest 99 percent enterprises that never engage in charity work 
feel unfair to be called "parsimonious". They complain of the current tax law 
under which corporations' donations are exempted from income tax if the amount 
is within 3 percent. The ratio is 30 percent for individuals. 

          "It's not we don't have goodwill, but charitable work does not 
deserve corresponding result under present tax law," said Wang Jianlin, 
chairman of the board of Dalian Wanda Group, a famous company in northeast 
China's Liaoning province. "The more you donate, the more tax you have to pay." 

          "Given the low ratio of tax exemption, enterprises in China lack the 
economic incentive to donate," said Xu Yongguang, vice-chairman of China 
Charity Federation. 

          It is estimated that by the end of 2004, about 5 billion yuan (617 
million US dollars) had been donated to China's charitable organization, 
accounting for 0.05 percent of the gross domestic product. In comparison, it 
was 2.17 percent in the United States. 

          "Despite differences of national conditions, such a large gap should 
set us thinking," said Xu. 

          Wang Zhenyao with Ministry of Civil Affairs's Disaster Relief 
Department attributed this to an under-developed tax policy. 

          "People in our country have not realized they can enjoy tax exemption 
if they make donations, which is one of the reasons why the tax policy is 
lagging behind." said Wang. 

          "Even if one knows that making donation can get tax exemption, he may 
give it up because of too much red tape to go." added Wang.      

          Speaking on his own experience, he said he once went through 10 
official procedures in two months in order to get 50 yuan (6.16 US dollars) tax 
exemption for his 500 yuan's personal donation (61.6 US dollars). 

          "The procedure could frustrate anyone who try to regain tax 
exemptions from donation," Wang said. 

          However, any donations made by foreign-funded companies in China are 
totally exempted from tax. In 2003, the State tax watchdog allowed full tax 
exemption on donations to only seven designated charity organizations. 

          "We are negotiating with taxation and financial departments to work 
out the new tax reduction system for donations," Wang said, 

          At the two-day China Charity Conference, began Sunday, Chinese 
government promised to provide a convenient and standardized service in 
donation-related tax reduction and exemption. Enditem
     


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[nasional_list] [ppiindia] 99% of Chinese firms never donate to charity

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