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Is Asia lacking in philanthropy?


NEXT to the bold-faced names in philanthropy, it would appear as if the ultra-wealthy in Asia are not stepping up, especially when the region is seeing the fastest rate of wealth creation in the world. While there is clearly no lack of need, a recent report puts it down to lack of incentive. The presence of inheritance taxes and specific tax perks are often cited as a major motivation for billionaires and corporate behemoths in the US and Europe to channel funds to charity.

BT speaks to three prominent Asian philanthropists who address the perception that the region's high-net-worth individuals are laggards in giving, and also explain how and why Asians have a different approach to large-scale giving. We spell out the issues in Brunch this Saturday, in The Business Times Weekend.

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