22 September 2011 08:17 [Source: ICIS news]
A price-based resource tax on oil and gas would be applied nationwide, the statement said.
Currently, only 12 provinces in the western and northern parts of the country, including Xinjiang, Inner Mongolia and
The statement did not specify the tax rate or say when the new regulation will be implemented.
The implementation period of the regulation will depend on the country’s inflation situation, but tax rates are likely to be at 5%-10%, market sources said.
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