国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Industries

China to raise crude product consumption tax

(Xinhua) Updated: 2014-11-29 09:15

China will raise the consumption tax on crude oil products beginning Saturday, to help cut emissions and boost green economy.

It is the first adjustment since the previous increase in 2009, the country's top finance and taxation departments jointly announced Friday.

The consumption tax on gasoline will rise from 1 yuan ($0.16) to 1.12 yuan per liter while that on diesel from 0.8 yuan to 0.94 yuan per liter, according to the Ministry of Finance (MOF) and the State Administration of Taxation.

The measure will take effect on Saturday.

The tax adjustment will offset the impact from the crude oil price drop in the international market, as analysts estimated fuel costs for drivers are likely to remain flat after the move.

The National Development and Reform Commission, China's top economic regulator, announced on Friday after fine-tuning the tax that it will maintain retail fuel prices at the current level, reversing market expectations for the ninth price cut since July.

The tax raise involves other petroleum products including naphtha, lubricating oil and jet fuel, while small-displacement motorcycle, tire and ethyl alcohol were exempted from the tax to reduce burdens on the low and middle-income group.

China initiated fuel tax and pricing reforms five years ago, lifting consumption tax and launching a pricing system more closely linked with international market.

A consumption tax was firstly imposed in 1994 on consumer goods with a high energy cost and high pollution in order to guide production and consumption toward being environmentally-friendly and to promote a sustainable economic growth model.

Over ten countries including Russia, Australia, New Zealand and France have raised their oil product consumption tax since 2012 to ensure green development.

The increased income from the tax lift will be used in pollution control and the battle against climate change, as well as encouraging purchase of new energy vehicles to promote energy saving.

A research institute under Sinopec Group projected the increased income will be 40 billion yuan a year based on the data of 2013, when Chinese drivers consumed 94.19 million tons of gasoline and 170 million tons of diesel.

"Tax adjustment of petroleum products is a global trend and underlines the urgent need to promote the green economy worldwide," said Liu Shangxi, director of the Research Institute for Fiscal Science of the MOF.

Liu said the move will save oil resources and contribute to emission cuts. Auto exhausts are a major cause of air pollution.

Bai Chongen, vice president of Tsinghua University School of Economics and Management, said the adjustment will benefit the new energy sector and push a healthy and sustainable growth mode.

Hot Topics

Editor's Picks
...
葫芦岛市| 南城县| 荣成市| 临汾市| 拉萨市| 长乐市| 永胜县| 阜阳市| 嵩明县| 辽阳县| 凤山县| 安图县| 阳朔县| SHOW| 枣庄市| 航空| 固镇县| 鲁甸县| 涞源县| 济阳县| 自贡市| 哈密市| 乡宁县| 南昌市| 炎陵县| 班戈县| 中宁县| 三河市| 嫩江县| 义乌市| 红安县| 定安县| 昭通市| 社会| 乐亭县| 嘉善县| 休宁县| 瑞金市| 原阳县| 封丘县| 东至县|