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Ministry studies tax reforms
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China's Ministry of Finance says it is studying resource-tax reforms and may launch the long-awaited fuel tax at a proper time to boost conservation.

Vice Minister Zhang Shaochun told Xinhua news agency this week that the central government is considering a broader range of products under the consumption tax.

The ministry will also launch a fuel tax at "an appropriate time" and may start to levy an environment tax, Zhang said, without specifying a timetable.

Late last year, Vice Finance Minister Zhu Zhigang said the time was ripe to launch a fuel tax, which will lift fuel prices and add to motorists' costs.

The ministry has also considered a 10-percent tax on crude oil production, which would affect revenues of companies including PetroChina Co and Sinopec Corp, an official said.

(Shanghai Daily June 19, 2008)

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