Published on ShanghaiDaily.com (http://www.shanghaidaily.com/)
http://www.shanghaidaily.com/sp/article/2008/200806/20080619/article_363702.htm
Ministry studies tax reforms
Created: 2008-6-19
Author:Fu Chenghao
CHINA'S Ministry of Finance says it is studying resource-tax reforms and may launch the long-awaited fuel tax at a proper time to boost conservation.
Vice Minister Zhang Shaochun told Xinhua news agency this week that the central government is considering a broader range of products under the consumption tax.
The ministry will also launch a fuel tax at "an appropriate time" and may start to levy an environment tax, Zhang said, without specifying a timetable.
Late last year, Vice Finance Minister Zhu Zhigang said the time was ripe to launch a fuel tax, which will lift fuel prices and add to motorists' costs.
The ministry has also considered a 10-percent tax on crude oil production, which would affect revenues of companies including PetroChina Co and Sinopec Corp, an official said.
Vice Minister Zhang Shaochun told Xinhua news agency this week that the central government is considering a broader range of products under the consumption tax.
The ministry will also launch a fuel tax at "an appropriate time" and may start to levy an environment tax, Zhang said, without specifying a timetable.
Late last year, Vice Finance Minister Zhu Zhigang said the time was ripe to launch a fuel tax, which will lift fuel prices and add to motorists' costs.
The ministry has also considered a 10-percent tax on crude oil production, which would affect revenues of companies including PetroChina Co and Sinopec Corp, an official said.
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