The Ministry of Finance says the law will enable authorities to provide tax relief for depleted, low-grade mines. Photo: Reuters
New law gives China’s regions power to tax resources
- Crude oil and rare earths will remain taxed at fixed central government rate
- System to pave the way for a nationwide levy to encourage water efficiency, official says
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National People's Congress
The Ministry of Finance says the law will enable authorities to provide tax relief for depleted, low-grade mines. Photo: Reuters