Tax evasion puts fuel oil firms in the dock
The government is looking to clamp down on companies that are importing fuel oil but declaring it as a bitumen mixture to avoid paying consumption taxes, according to a government document obtained by Reuters onWednesday. About 270,000 to 540,000 metric tons of bitumen mixture are being imported every month, traders said. China charges 1.2 yuan (19 cents) per liter for fuel oil consumption while levying no such tax on the use of bitumen. 31.34 percent of the insurer, according to the paper.