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In 2018, a new charity trust was established with a total of 1.101 billion.
Securities dailyYan Jingwei
In recent years, charitable trusts have played an important role in promoting the development of public welfare undertakings, and it has gradually become one of the important directions that trust companies have explored. Recently, the China Charity Trust Development Report of 2018 (hereinafter referred to as the "Report") shows that in 2018, a total of 79 new charitable trusts were established in China, an increase of 75.56% over the same period of last year; the newly established charity trust property reached 11.01. 100 million yuan, an increase of 84.42%.
In addition, the "Securities Daily" reporter found that according to the national charity information disclosure platform, since 2019, there have been 13 single charitable trusts, with a total scale of 83.121 million yuan. At present, there are 159 charitable trust filing data on the platform, and the total assets have reached 2.01 billion yuan.
Chao Liucheng Trust Company has participated
According to the "Report", in 2018, China's charitable trusts have undergone a transformation from "striking the water test period" to "the initial growth period", and the scale of trust property growth has been steadily progressing. From the perspective of scope, a total of 17 provinces' civil affairs departments have carried out charitable trust filings; from the perspective of the size of the registered property, the scale of charitable trusts in Zhejiang, Guangdong and Beijing ranks among the top three.
As for the filing of charitable trusts last year, the establishment of short-term charitable trusts has become the dominant factor. The Report shows that in 2018, the number of short-term charitable trusts of five years and below, the number of charitable trusts with a 10-year and permanent duration increased significantly. Among them, short-term charitable trusts of 5 years and below have 38 singles, accounting for nearly half. The development of charitable trusts has a short-term effect, driven by a specific task orientation, and charitable trust projects based on long-term relief and distribution purposes and their development are still being explored.
According to the Report, the model of trust companies as trustees continues to heat up. Between 2016 and 2018, a total of 42 trust companies set up charitable trusts, accounting for more than 60%. Among them, 11 trusts such as Xiamen Trust, Suzhou Trust and Chongqing Trust all landed charitable trust projects in 2018.
The "Securities Daily" reporter compiled data on the national charity information disclosure platform. Currently, there are 159 charitable trust filing data on the platform, and the total assets have reached 2.01 billion yuan. Among them, a total of 148 single charitable trusts use trust companies as trustees or co-trustees. Among them, Wanxiang Trust is entrusted with the management of 13 single charitable trusts, with a management scale of 929 million yuan. In addition, CITIC Trust, China Aviation Trust, Minmetals Trust and other companies have also been at the leading level in the industry.
Tax incentives to be settled
The "Report" pointed out that in 2018, several trust companies realized innovation in the design of charitable trust products, and promoted more charitable funds and project resources to participate in poverty alleviation, "charitable trust + corporate loans", "charity trust %2B equity investment", " Innovative models such as industrial poverty alleviation and precision assistance are emerging one after another.
Among them, charitable trusts help to get rid of poverty and become a hot spot for innovation. Among the 79 single charitable trusts established in 2018, there are 47 singles involved in industrial poverty alleviation, education poverty alleviation, and employment poverty alleviation, and most of them belong to the category of precision poverty alleviation. For example, Minmetals Trust's “Sanjiangyuan Precision Poverty Alleviation” series of charitable trusts have 11 individual products for record, and the trust funds are used to support poverty alleviation and development in Qinghai Province, precision poverty alleviation in Gansu Province, and ecological protection of Sanjiangyuan. Charitable trusts have become an important innovation tool in the campaign of precision poverty alleviation.
In fact, the development of charitable trusts cannot be separated from the support of the regulatory authorities. As early as March 2017, the former China Banking Regulatory Commission and the Ministry of Civil Affairs jointly issued the “Management Measures for Charitable Trusts” (hereinafter referred to as the “Measures”), which clarified that the trust company will carry out a package of concessions for charitable trust business exempt from venture capital and exemption from the trust industry protection fund. policy. During this year's National People's Congress, Lai Xiufu, director of the Trust Supervision Department of the China Insurance Regulatory Commission, also told the media that it is recommended to give some preferential tax policies to charitable trusts.
Since the icebreaking of charitable trusts, when the tax concessions have been the focus of industry discussions, there is still no policy document to be based on. Since the trustee of the charitable trust cannot enjoy the same tax benefits as the donors of the charity, the industry generally believes that this is one of the obstacles restricting the development of charitable trusts.
According to industry insiders, in practice, a trust company as a trustee cannot issue donation bills for the client, but in order to help the client realize the income tax pre-tax deduction tax incentives, the “double trustee” model is often adopted, that is, Foundation cooperation for invoicing qualifications. Although it can technically solve the problem of the tax incentives for the trustee to set up charitable trusts, it still belongs to the expedient measure in the absence of specific policies for charitable trust tax incentives. After the corresponding tax incentive system has been put into practice, it is expected that the charitable trust will have a broader development space.
It is worth noting that in the issue of tax incentives for charitable trusts, Guangdong Province has implemented one step ahead. Recently, the Guangdong Provincial Civil Affairs Department,Bank of ChinaThe Guangdong Supervision Bureau of the Insurance Regulatory Commission jointly issued the “Implementation Rules for the Management of Charitable Trusts”, which clearly stipulates that: the trustee, trustee and beneficiary of the charitable trust hold the record receipt issued by the civil affairs department, enjoy tax benefits according to law; For the purpose of charitable trusts, special preferential policies are granted in accordance with state regulations; trust companies conduct charitable trust business exempt from venture capital and are exempt from the subscription of trust industry protection funds.
Editor in charge: Fu Jianqing RF13564
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