Taxation: Natural resources tax
(Xinhua)
Updated: 2006-08-14 10:59
China collected 10.1 billion yuan (1.26 billion US dollars) in terms of
natural resources tax in the first half of the year, up 46 percent over the same
period last year, according to a report in the Economic Daily on Friday.
China raised natural resources tax rates in 2005 for a number of resource
products, a move aimed at ensuring that non-renewable natural resources are
utilized more effectively.
The current natural resources tax uses a fixed rate based on a company's
production and sales.
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