After years of debate, China is set to implement a new resource tax on coal starting December 1. The new tax will be based on the sales price, not the quantity sold, as is currently the case. Coal-related fees, such as the environmental compensation levy, are also expected to be cancelled. The reforms aim to standardize the coal tax system and promote resource conservation. Each province’s fiscal and taxation department will propose a tax rate of between 2 and 10 percent to the...
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