Tax Exemption Policies
1. According to the Individual Income Tax Law of the People’s Republic of China and the Regulations on the Implementation of the Individual Income Tax Law of the People's Republic of China, donation by a taxpayer not exceeding 30% of the taxable income of which a taxpayer has filed in the tax return may be deducted from the taxable amount.
2. According to Article 9, Chapter 2 of the Enterprise Income Tax Law of the People’s Republic of China, which was approved at the 5th session of the 10th National People’s Congress on March 16, 2007, and comes in effect as of January 1, 2008, “with regard to an enterprise's disbursements for public welfare donations, the portion that accounts for 12% of the total annual profits or less is allowed to be deducted.”
3. On February 21, 2014, Jiangsu Provincial Department of Finance, Provincial State Tax Bureau and Provincial Local Taxation Bureau published the list of the 4th batch of Public Welfare Organizations Entitled to Pre-Tax Deduction of Public Welfare Donations (CS No.5), which includes the Nanjing University Education Foundation. Therefore, NJUEDF is entitled to pre-tax deduction of public welfare donations from 2013 to 2017.