China to expand resource tax reform pilot
Updated: 2011-07-18 15:51
By Ben Yue (chinadaily.com.cn)
China will expand the range of taxable resources to additional natural resources beyond just oil and gas, Shanghai Securities News reported Monday.
Guo Xiaolin, vice-director of the general office of the State Administration of Taxation, told the newspaper that the resource tax reform proposal has been submitted to the State Council, which plans to impose a resource tax nationwide instead of just in pilot locations and according to prices instead of amount.
Jia Kang, director of the Research Institute for Fiscal Science under the Ministry of Finance, said the second half of this year could be a good time to expand the range of taxable resources if inflation does not get worse.