The resource tax reform plan has been approved by the Legal
Affairs Office of the State Council and is now waiting for final
approval from the Executive Meeting of the State Council.
Currently resource taxes make up 1 percent of the resource
companies' turnovers. The reform plan would raise this to 3 to 4
percent. Many enterprises are concerned whether the plan will
cancel resources compensation fees. An official from the State
Administration of Taxation (SAT) said that the resources
compensation fees would remain valid at present but that they would
be cancelled at an appropriate future time.
For more details, please read the full story in Chinese. (
http://www.eeo.com.cn/Politics/beijing_news/2007/11/27/88382.html)
(China.org.cn November 28, 2007)
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