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China may raise resource tax
By Shangguan Zhoudong (chinadaily.com.cn)
Updated: 2007-06-15 16:55
China is likely to raise its resource tax as part of efforts to encourage
energy efficiency, according to Shanghai Securities News.
Sources said the tax authorities propose to adjust the method for
calculating the resource tax to reflect the price of the products.
China currently uses a volume-based calculation to assess resources tax.
Han Wenke, director of the National Development and Reform Commission's
Energy Research Institute, said yesterday that the timetable is still
unavailable and the NRDC will adjust the tax.
An expert with the Ministry of Finance said the tax will be charged by
local governments to help raise local revenue.
The pricing mechanism of China's resources doesn't reflect the resource
scarcity, the supply and demand and the pollution costs, according to
Feng Fei, director of the Industrial Economy Department of the
Development Research Center under the State Council.
(For more biz stories, please visit Industry Updates)
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