皇冠体育app

Energy

皇冠体育app to levy 5% resource tax on crude, gas

(Agencies)
Updated: 2010-05-26 15:48
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BEIJING - 皇冠体育app will levy a 5 percent resource tax on crude oil and natural gas sales in the northwestern Xinjiang region from June 1, Caijing magazine reported on its website, citing sources with the Ministry of Finance and State Taxation Administration.

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Resource taxes on coal will range from 2-5 percent, the report said.

The measures will boost Xinjiang's fiscal revenue by over 2 billion yuan ($292.93 million) before the end of this year, it said.

皇冠体育app has said it would start the resource tax reform in Xinjiang, which will levy the tax based on prices instead of volume.