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    Notices

    TUEF obtained the qualification of pre-tax deduction of public welfare donations for 2012

    According to the Circular on the Announcement of the List of Public Welfare Social Groups Awarded the Qualification of Pre-tax Deduction of Public Welfare Donations for 2012 (CS[2013]No.10), jointly issued by the Ministry of Finance, the State Administration of Taxation and the Ministry of Civil Affairs on March 8, 2013, TUEF and other 147 foundations, including China Charity Federation and China Foundation for Poverty Alleviation, were included in the “List of Public Welfare Social Groups Awarded the Qualification of Pre-tax Deduction of Public Welfare Donations for 2012”. 

    Besides, according to the Circular of the Ministry of Finance, the State Administration of Taxation and the Ministry of Civil Affairs on Issues Concerning Pre-tax Deduction of Public Welfare Donations (CS[2008]No.160), the issues concerning pre-tax deduction of public welfare donations are specified as follows: 

    1. In respect to the expenditure of an enterprise on public welfare donations made via public welfare social groups or people’s governments at or above county level and their departments, the part not more than 12% of its annual gross profit may be deducted when it calculates payable income. The annual gross profit refers to the amount of above zero the enterprise calculates according to the national unified accounting system. 

    2. The expenditure of an individual on public welfare donations made via social groups or state organs may be deducted before income tax according to the prevailing tax laws, administrative regulations and relevant policies.


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