The Standing Committee of the People’s Congress of China passed the decision on the amendment to article 9 of the Enterprise Income Tax Law regarding the deductibility of charitable donations, on 24 February 2017. In accordance with the amendment, up to 12% of the enterprise’s total annual profits are deductible for charitable donations. Donations in excess of such percentage may be carried forward to the subsequent 3 years. The amendment became effective from 24 February 2017.
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