Legal and fiscal developments
Proposed reform of Egyptian NGO law would threaten future of many
A bill modifying Egypt's NGO law, expected to be introduced before the current parliamentary session ends this summer, is likely to restrict foreign funding to NGOs, according to local civil society activists, a move which would imperil the existence of many of them.
Legal and fiscal developments
Fortune Forum’s tax-relief-for-aid proposal attracts mixed press
A proposal to encourage wealthy UK donors to give more to tackle world poverty, launched in London early last month, has been endorsed and reviled in almost equal measure. Under the scheme, 50 per cent of money donated towards the UN's Millennium Development Goals through this scheme would be deducted from an individual or corporation's tax liability (which is only 40 and 28 per cent, respectively), with the government making up the other 50 per cent from its aid budget.
Legal and fiscal developments
Senate throws out Obama’s proposal to limit tax deductions for wealthy
On 2 April the Senate unanimously rejected the Obama administration’s proposal to limit the value of deductions for charitable gifts. This was included in the budget recently presented to Congress and had created consternation in philanthropic circles. The proposal is that taxpayers earning more than $250,000 will have their ability to deduct contributions to charities reduced from 35 to 28 per cent.
