Date
17 October 2017

China to trim taxable items for coal firms, paper says

The government will reduce taxable items for coal industry players, China Business News reported Monday, citing Yan Tianke, a senior officer at the National Energy Administration (NEA). At present, coal firms in China have to pay at least 109 kinds of taxes and administration fees, the report noted. The tax those firms have to pay is almost about 25 to 30 percent of their operating income, Yan said, indicating that the burden will be eased. Meanwhile, the government will step up the resource tax reforms by taxing coal based on the prices instead of the sales volume.

– Contact HKEJ at [email protected]

MY/AC/RC

 

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