Chinese government may waive biodiesel consumption tax
Thursday December 23 2010
The government is drafting rules to waive the consumption tax for biodiesel, Bloomberg reported cited Shanghai Securities News. The new rules may be launched next year.
In China, there is a 5% consumption tax on biodiesel introduced in January 2009. The average value added tax (VAT) on biodiesel is 17%. However, producers using waste feedstocks receive a 70% VAT refund.
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