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 raises consumption tax on oil products

(Xinhua) Updated: 2015-01-13 09:21

China raises consumption tax on oil products

A man refules vehicle?in a petrol station in Lianyungang, Jiangsu province, Jan 12, 2014. [Asianewsphoto by Geng Yuhe] 

BEIJING - China's finance and taxation authorities on Monday announced that consumption tax on oil products would be raised from Tuesday.

The tax on gasoline, naphtha, solvent oil and lubricating oil will be increased to 1.52 yuan ($25) per liter from 1.4 yuan. The levy on diesel, jet fuel and fuel oil will be increased from 1.1 yuan per liter to 1.2 yuan, according to the Ministry of Finance (MOF) and the State Administration of Taxation (SAT).

This will be the third increase in as many months, following one on Nov 29 and another on Dec 13.

The retail prices of gasoline and diesel will be cut by 180 yuan and 230 yuan per tonne after taking the higher tax into consideration, the National Development and Reform Commission announced in a separate statement.

This the 12th retail fuel prices cut since July 2014, as the government reacts to lower global crude oil prices.

Proceeds from the higher taxes will mainly be allocated to counter-pollution initiatives and the new energy sector, according to the MOF and the SAT.

However, experts warn that the drop in oil prices is bad news for the new energy sector. For example, new-energy cars will see reduced sales, said Liu Shangxi, director of the research institute for fiscal science at the MOF.

China's energy consumption accounted for about 22.4 percent of the world's total in 2013, but its energy consumption per gross domestic product (GDP) was 3.5 times of that of the United States and seven times of that of Japan, according to Liu.

Fuel tax and pricing reform measures began five years ago, and have featured consumption tax hikes and the introduction of a pricing system more closely linked to the international market.

Consumption tax was first imposed in 1994 on consumer goods with a high energy cost and high pollution to make production and consumption more environmentally-friendly and promote sustainable growth.

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

 

Hot Topics

Editor's Picks
...
越西县| 五寨县| 明溪县| 湛江市| 宁都县| 顺平县| 浪卡子县| 南雄市| 宁安市| 镇沅| 苍梧县| 青浦区| 吴堡县| 利辛县| 定日县| 宿迁市| 永善县| 永吉县| 武定县| 香河县| 洪湖市| 刚察县| 临安市| 湘潭市| 东乡族自治县| 城市| 明溪县| 陆河县| 裕民县| 锡林郭勒盟| 四会市| 皮山县| 宣化县| 丰县| 邵阳市| 海口市| 湟中县| 奇台县| 清徐县| 牡丹江市| 鹤峰县|