Mining Product VAT Should not be Cut again in China
[2010-03-04 09:13:37]
According to Ministry of Finance People's Republic of China has recently, VAT for mining product, such as coal, should not be cut again. With relative departments, MOF is now putting the loaded funds involved in coal production and sales in order.
According to the news source familiar with the environment, MOF made it clear that during the next step of VAT reformation, low tax rate products will be further scaled down. Therefore, VAT for mining products, including coal will be possibly raised from the present 13%.
Source: MySteel.net
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