Tax eva­sion puts fuel oil firms in the dock

China Daily (Canada) - - FRONT PAGE -

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.

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