China is set to expand reform of resource taxes across the board from July 1.

 

中国将从7月1日起全面推行资源税改革。

 

The expansion will see a resource tax levied¹ on most mineral products based on price instead of quantity.

 

Since 2010, China has experimented with taxes based on price instead of quantity in six mineral products: coal, gas, molybdenum, oil, rare earth and tungsten. 

 

A pilot on water resource taxation² in north China's Hebei Province is expected to expand to wood, pasture and tidal flats in the future.

 

At the same time, authorities will cut certain fees on minerals to reduce tax burdens.

 

China introduced resource taxes in 1984, mainly targeting businesses in oil, natural gas and coal.

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