China issues first environment protection tax receipt to BASF

02 April 2018 06:58 Source:ICIS News

(recasts company name)

SINGAPORE (ICIS)--China on 1 April issued its first environment protection tax receipt and the tax payer is Shanghai-based BASF Advanced Chemicals Co, marking successfully implementation of this new levy,  official news agency Yicai reported over the weekend.

Introduced on 1 January this year, the environment protection tax is levied on quarterly basis and 1 April is the first pay date.

The company paid a net of around CNY8,800 ($1,401) for the tax after a deduction of nearly CNY600 as its pollutions were lower than national standards, the report said.

Companies or individuals emit four types of pollutants, including gas, water, solid scraps and noise, directly to the environment without any treatments will be taxed. So far, some 270,000 companies in the country are identified as payers of the “green” tax.

($1 = CNY6.28)

 ICN

By Fanny Zhang