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China To Boost Resource Tax Reform
Mar 30, 2018

  China will levy a resource tax on rare earths, tungsten and molybdenum based on sales value instead of production quantity, the Ministry of Finance announced on Thursday.

  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.

  The new tax, taking effect from May 1, is set at 6.5 percent for tungsten, and at 11 percent for molybdenum.

  Authorities will cut certain fees on minerals to reduce tax burdens.2 (1).jpg