Shanxi coal resource tax ratio set at 8 pct
BEIJING, Jan. 4 (Xinhua) - Coal resource tax ratio in Shanxi, a large coal production base in North China, is set at 8 percent, effective from January 1, 2015.
China launched ad valorem resource tax reform on coal from December of 2014 and at the same time canceled related fees on coal. According to the reform plan, the resource tax ratio is set separately by each provincial government between 2 percent and 10 percent.
After nearly half of year of charges cleanup, Shanxi province alleviated 17 billion yuan of taxation burden on coal companies. (Edited by Li Xiaohui, firstname.lastname@example.org)