China looks set to introduce a carbon tax to improve the environment according to the Ministry of Finance.
In a twist, the tax would collect the environmental protection tax instead of pollutant discharge fees.
The tax would be collected by a local taxation authority, rather than the environmental protection department, that will collect the taxes.
The government would also look at resource tax reforms by taxing coal based on prices instead of sales volume.
No date has been given for when the new measures would be implemented.
China is among the world's largest emitters of greenhouse gas.
The government said it would get tough on pollutants to reduce carbon intensity, or the amount of carbon dioxide emitted per unit of economic output, by 40 to 45 percent by 2020 from 2006 levels. Reported by Proactive Investors 2 hours ago.
In a twist, the tax would collect the environmental protection tax instead of pollutant discharge fees.
The tax would be collected by a local taxation authority, rather than the environmental protection department, that will collect the taxes.
The government would also look at resource tax reforms by taxing coal based on prices instead of sales volume.
No date has been given for when the new measures would be implemented.
China is among the world's largest emitters of greenhouse gas.
The government said it would get tough on pollutants to reduce carbon intensity, or the amount of carbon dioxide emitted per unit of economic output, by 40 to 45 percent by 2020 from 2006 levels. Reported by Proactive Investors 2 hours ago.