Off the wire
• Ukraine hopes to attract 3 bln USD of foreign investment in 2015  • 1st LD-Writethru-China Focus: China awards model workers, urges stronger labor unions  • MOAS, MSF to redeploy migrants rescue operation  • Greece promotes deal with Switzerland to nab tax evaders  • U.S. home prices gain in February  • U.S. consumer confidence declines in April  • 1st LD: Hearing reviews 20-year-old rape and murder case  • S. African gov't releases names of victims in xenophobic attacks  • Commentary: Baltimore riots reveal U.S. fault in social division, legal system again  • Arab Israelis stage general strike over housing crisis  
You are here: 　 Home

China to adjust resource tax and fees

Xinhua, April 28, 2015 Adjust font size:

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. Endit