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China readies resource tax reforms


05-11-2016 00:14 BJT

The Finance Ministry said Tuesday that China will expand its resource tax reforms later this summer by changing the way it levies taxes on such resources as iron ore and copper.

The ministry says producers will be charged taxes on the basis of price rather than volume when the changes take effect July 1st. China has already completed similar reforms concerning the way it taxes coal, natural gas, crude oil, and rare earths. China will later also implement a resource tax trial on water and gradually include other natural resources in the tax reforms.

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