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Article: Corporate responsibility - It's better to give ...
- Article from:
- Financial Director
- Article date:
- June 1, 2005
- Author:
CopyrightCOPYRIGHT 2005 Incisive Media, published with the permission of Incisive Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Richard Willsher.
Companies are aware of the many benefits of corporate giving, not just to their own bottom line by way of tax breaks, but also by improving their image with customers.
Last year's Business in the Community (BITC) PerCent Standard report, a key benchmark of community investment by UK corporations, showed that 116 companies had donated 1% of their UK or global pretax profits to the communities in which they operate - a figure just short of [pounds sterling]1bn, in the form of cash, gifts-in-kind, management costs and employee time.
And during the year to 31 December, pharmaceuticals company GlaxoSmithKline (GSK) invested ...