Beijing, March 24 (IANS) China is considering levying a consumption tax on some products that make heavy use of resources and cause pollution.
This is aimed at promoting resource and environmental protection awareness, China Daily said Sunday.
The plan was mentioned in a document compiled by the ministry of finance and the budget committee of the Standing Committee of the National People's Congress, the country's top legislature.
The committee is studying the inclusion of products with high resource consumption, those causing environmental pollution, and some high-end consumer goods in items subject to consumption tax.
It also says it is considering adjusting the tax rate on some consumer products that are "incompatible with the country's consumption level".
Fourteen items are currently subject to consumption tax including cigarettes, alcohol, cosmetics, expensive jewelry, pearls and jade, firecrackers, motorcycles and automobiles.
Do you like this article?
Copyright Indo-Asian News Service
User Rating (0 Votes)
|Art - Culture||Business||Diaspora|