Tycoon has its due contributions to the West
Buffett’s donation initiative has been the rich pre-loaded U.S. and now has 40 assets of over one billion U.S. dollars of U.S. millionaire to join. Of course, the generosity of the rich, in addition to their charity, but also due to the existing provisions of Western encouragement of charity.
The tax system, the amount of estate duty in Western countries is very high, such as the United States up to 50%. Therefore, many U.S. billionaires prefer to property out for public welfare.
In the United States, if a company donated money to the community, and donations in excess of 10% of tax payable, then the corporate tax to 10% reduction. If less than 10% can be deducted in the tax portion has been donated.
In China, if companies want to get relief through charitable tax incentives must be approved by the state to contribute a small number of foundations can be achieved.