Resource tax faces reform

Regulatory

5 May 2008

China's government will likely reform its resource tax in the second half of this year, the South China Morning Post reported, citing state media. The long-awaited reform will likely include a change from taxing resources based on volume to taxing based on sales value, but will not impose different rates on mines based on the quality of their resources. This could disappoint those who have advocated for new tax policies as a tool to discourage wasteful mining, the paper said. The resource tax reform has been under consideration since June of last year.

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