The Ministry of Finance says the law will enable authorities to provide tax relief for depleted, low-grade mines. Photo: Reuters
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

Topic |   National People's Congress (NPC)
The Ministry of Finance says the law will enable authorities to provide tax relief for depleted, low-grade mines. Photo: Reuters
The Ministry of Finance says the law will enable authorities to provide tax relief for depleted, low-grade mines. Photo: Reuters
READ FULL ARTICLE