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Donating international firms to be exempted from import tariffs, VAT
China's top legislators on Wednesday reviewed the nation's draft of the first philanthropy law amid rapidly-developing charity activities that have also fallen victim to fraud and corruption scandals, as the nation vowed to continue work on its first law on managing international NGOs in China in 2016.
According to the draft law, organizations can apply for registration at civil affairs authorities above county level Cheap Terry Mills Jersey , and those that meet legal requirements must get registered within 30 days. Foundations, social organizations and other social service institutes that have been organizing charitable programs can be identified as charitable organizations at their administrative civil affairs departments within 20 days.
"As the first law on charity, the draft law will boost charity organizational development in China by granting them legal status and offering convenience in registration," Zhang Gaorong Cheap Joe Dumars Jersey , an assistant dean at Beijing Normal University's China Philanthropy Research Institute, told the Global Times.
Instead of an annual examination, the draft law now requires the filing of an annual work report to administrative civil affairs authorities. It also requires organizations to make public their work report, which should include financial and donation accounts as well as wages.
Public concern over embezzlement and the improper management of charities has risen after a series of scandals in recent years. Nationwide donations in 2012 dropped for the second straight year Cheap Ben Wallace Jersey , Xinhua reported in September 2013.
Meanwhile, the draft law proposes incentives, including tax breaks for donors and charitable organizations.
"It is encouraging to see a tax relaxation policy on companies engaged in philanthropy, since many donors have expressed concern. More people may be willing to donate if the policy can be carried out at grass-roots level governments Cheap Chauncey Billups Jersey ," Zhu Danna, chief program officer of BEA. MLB Jerseys Wholesale NFL Jerseys From China Replica NHL Jerseys From China Wholesale Jerseys China Free Shipping Wholesale NHL Jerseys Wholesale NFL Jerseys Free Shipping Wholesale NCAA College Jerseys Wholesale College Baseball Jerseys Wholesale NBA Basketball Jerseys Wholesale NBA Basketball Jerseys |
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