China will implement resource tax from November
2011-10-12 10:31:00 [Print]
China will extend a regional resource tax on domestic sales of crude oil and natural gas to the whole country and widen it to include coking coal and rare earths from November 1st 2011.
The sales of crude oil and natural gas sales nationwide would be subject for a tax of 5% to 10%, a sales tax of CNY 0.40 per tonne to CNY 60 per tonne on rare earth ores and CNY 8 per tonne to CNY 20 per tonne on coking coal. Taxes on other types of coal remained unchanged at CNY 0.30 per tonne to CNY 5.00 per tonne.
The sales of crude oil and natural gas sales nationwide would be subject for a tax of 5% to 10%, a sales tax of CNY 0.40 per tonne to CNY 60 per tonne on rare earth ores and CNY 8 per tonne to CNY 20 per tonne on coking coal. Taxes on other types of coal remained unchanged at CNY 0.30 per tonne to CNY 5.00 per tonne.
