China is to give income tax exemption on donations made by individuals and units to its fight against severe acute respiratory syndrome (SARS), says the Ministry of Finance and the State Administration of Taxation Wednesday.
All the funds and goods donated will be exempted from the total taxable value before tax, according to a notice issued by the ministry and the taxation administration.
The tax exemption is effective from Jan. 1, 2003 and will be repealed as soon as the epidemic situation is relieved.
(Xinhua News Agency April 30, 2003)
