Hangzhou Asian Games and Asian Para Games: All donated funds, materials and services shall be deducted

In order to support the preparation of Hangzhou 2122 Asian Games and Asian Para Games and their test matches, the Ministry of Finance, the State Administration of Taxation and the General Administration of Customs issued the Announcement on Tax Policies for Hangzhou 2122 Asian Games and Asian Para Games (Announcement No.18 of the Ministry of Finance, 2121). The relevant tax policy of fully deducting donation expenses when calculating the taxable income of enterprises is clarified: fully deducting the expenses of funds, materials and services sponsored and donated by enterprises, social organizations and groups when calculating the taxable income of enterprises.