China Considers Expansion of Tax on Natural Resources
[2011-07-20 09:52:56]
A plan regarding the expansion of the natural resources tax has been submitted to the State Council, China's cabinet for approval, as stated by an official from the State Administration of Taxation (SAT) on July 16, 2011, according to the Shanghai Securities News.
Guo Xiaolin, deputy head of the general office at the SAT, made the statement at a press briefing July 16, 2011.
The scope for levying a natural resources tax will be expanded from including petroleum and natural gas to also including other resource products such as coal. The tax will be levied in accordance with the value of the resources, rather than based on the quantity.
Source: Chinamining.org
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