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BIZCHINA / Biz Media Digest

Finance: China releases tax breaks
(Shanghai Daily)
Updated: 2006-07-20 15:43

To encourage more donations to charitable organizations, the Ministry of Finance and the State Administration of Taxation will allow five different forms of tax-deductible donations from individuals, corporations and institutions, Beijing News reported today.

For example, if a person earns 10,000 yuan (US$1,250) every month and donates 5,000 yuan to appointed organizations, they needn't pay tax for the donated part.


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