China looks to increase coal tax

CHINA is looking to increase its coal tax rate from 1% to 3% in a bid to slow coal consumption for energy.
China looks to increase coal tax China looks to increase coal tax China looks to increase coal tax China looks to increase coal tax China looks to increase coal tax

 

Angie Tomlinson

According to a China Daily report, a plan to increase the tax has been submitted to the State Council.

An analyst told the newspaper the tax would be levied in accordance with the value of the coal product. An increase of 6.5 to 7 yuan (US94c) will be added to the current 350 yuan ($US47) price attained per tonne.

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