20 April 2024
China to extend tax on oil and gas sales
Publication date: 11 October 2011
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China is to extend a value-based tax on oil and gas sales to cover the whole of China in a bid to save energy and increase revenue, according to the ministry of finance. The oil and gas tax, ranging from 5 to 10% of sales, will be levied on both domestic producers and joint ventures with overseas companies.