Ministry studies tax reforms

By Fu Chenghao  |   2008-6-19  |     NEWSPAPER EDITION

  EMAIL STORY

  PRINTABLE VIEW

  BLOG STORY

  COPY HEADLINE AND URL

  SHARE

-- Adverstisement --

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.

related stories

Export taxes refund on veg oil to end

CHINA will stop refunding export taxes levied on some types of vegetable oil from June 13, the Ministry of Finance said in a statement yesterday. This move is part of the government's effort to control vegetable...

MORE

Expand to view all explore Business (33)