| « Wal-Mart to open 115 new stores in China | Nepal quake may dampen China trade » |
China to adjust resource tax and fees
China will reform the resource tax of several natural resources and cut unnecessary fees starting from May, according to a statement released after a State Council executive meeting presided over by Premier Li Keqiang on Tuesday.
Resource taxes of rare earth, tungsten and molybdenum will be levied according to price instead of quantity. Reasonable tax rates will be worked out with no more tax burdens on enterprises.
Meanwhile, the central government will exempt mineral resources compensation fees, and ban illegal charges on the three resources by local governments below the provincial level.
The three resources will also be exempt from export tariffs from May,the Ministry of Finance announced last Thursday.
dacare This entry was posted on April 29th, 2015 at 11:52:33 am by dacare and is filed under News of China.