Shanghai Property Worth 6.5 Million Yuan Donated for Charity Faces Estimated 4.5 Million Yuan Tax Bill Upon Sale
According to Shanghai News Workshop, the Minhang District Representative Office of the Shanghai Charity Foundation received a property worth 6.5 million yuan bequeathed by an elderly person for educational aid. The person in charge stated that selling the property would require an estimated 4.5 to 4.6 million yuan in taxes, so they have decided not to sell it for now and will instead use rental income to support charity. On October 31, the topic topped the Weibo trending list.