China to raise resource tax
The State Administration of Taxation announced yesterday that China will raise the resource tax on mines including lead, zinc, copper and tungsten on 1 August.
The new policy will raise the resource tax on lead and zinc ore to RMB20/ton from previous RMB10/ton. The tax on copper ore will be raised to RMB7/ton from RMB5/ton. For tungsten ore, the tax will reach RMB9/ton from RMB7/ton.
The government starts the new policy because of the high domestic prices and promotion to sustainable mineral resource sector development.
News Date 18 Jul 2007 10:55:20 reported by Windy