Six questions on the draft charity law
Updated: 2016-03-11 14:15
(chinadaily.com.cn)
|
||||||||
Staff members of the Red Cross Society of China load relief materials onto a vehicle on April 27, 2015. The relief materials were delivered to earthquake-stricken Nepal. [Photo/Xinhua] |
5. Can charity organizations or donation recipients freely spend the remaining part of the money, after the initial goal was achieved?
Answer: It depends
Draft: If an agreement already exists on how to deal with the excess money, follow the agreement. If not, charitable organizations should spend the money on other similar charity projects, and publish the related information to the public.
Interpretation:
For one condition, donations for individuals, let's say donations for a patient, the rest part of the money can be used for his subsequent treatment, checkups, fitness exercises, etc. For the other conditions, if charitable organizations have the money, they should give the money to other people in need. Such cases vary, and more detailed legal provisions are needed.
by Shi Jie
6. Can a company get tax deductions after making donations?
Answer: Yes
Draft: Individuals and institutions who made donations are entitled to favorable tax policies, according to law.
Interpretation:
Favorable tax policies to companies doing charity are an important way to promote philanthropy. Current law prescribes detailed tax benefits for donors, charitable organizations and donation recipients.
by Kan Ke
- Charity law to encourage 'bigger philanthropy' to benefit society
- NPC hopes charity law can help poverty fight
- China hopes to improve philanthropy through charity law: spokeswoman
- Charity law to be discussed as giving booms in China
- Charity law will encourage donors, experts say
- Charity law will encourage donors, experts say
- Draft charity law to improve transparency of Chinese charities
- Charity law should be extended to individuals
- Top legislature considers draft charity law
- Charity law should be extended to individuals
- Beijing sees blue sky during the two sessions
- Fukushima five years on: Searching for loved ones
- Robots ready to offer a helping hand
- China to bulid another polar ship after Xuelong
- Top 10 economies where women hold senior roles
- Cavers make rare finds in Guangxi expedition
- 'Design Shanghai 2016' features world's top designs
- Cutting hair for Longtaitou Festival
Most Viewed
Editor's Picks
Cavers make rare finds in Guangxi expedition |
Cutting hair for Longtaitou Festival |
Twin brothers and sisters form acrobatics team |
600,000 tulips bloom in Kunming |
Southeast Asia experiences rare total solar eclipse |
China hits back at US over restrictions on ZTE |
Today's Top News
What ends Jeb Bush's White House hopes
Investigation for Nicolas's campaign
Will US-ASEAN meeting be good for region?
Accentuate the positive in Sino-US relations
Dangerous games on peninsula will have no winner
National Art Museum showing 400 puppets in new exhibition
Finest Chinese porcelains expected to fetch over $28 million
Monkey portraits by Chinese ink painting masters
US Weekly
Geared to go |
The place to be |