New draft eco­log­i­cal tax aims to cut emis­sions

China Daily (USA) - - NEWS CAPSULE -

China’s first draft en­vi­ron­men­tal pro­tec­tion tax law, which is ex­pected to cut pol­lu­tant emis­sions, has been sub­mit­ted to the coun­try’s top leg­isla­tive body.

It is aimed at pro­tect­ing the en­vi­ron­ment and im­prov­ing eco­log­i­cal con­struc­tion by pro­mot­ing en­ergy con­ser­va­tion and re­duc­ing emis­sions, Fi­nance Min­is­ter Lou Ji­wei told the bi­monthly ses­sion of the Na­tional Peo­ple’s Congress Stand­ing Com­mit­tee.

The draft calls for taxes to be placed on in­di­vid­u­als or com­pa­nies that pol­lute the air, wa­ter or soil, or emit noise pol­lu­tion. Com­pa­nies that suc­cess­fully re­duce their level of pol­lu­tants emis­sion will be sub­ject to re­duced lev­els of tax.

Com­pa­nies di­rectly dis­charg­ing pol­lu­tants — es­pe­cially those in ma­jor pol­lut­ing in­dus­tries such as ther­mal power, iron and steel, ce­ment, coal, elec­trolytic chem­i­cal en­gi­neer­ing, phar­ma­ceu­ti­cal and tex­tiles — will be sub­ject to a new tax.

If the first read­ing and fol­low­ing re­views go well, it could be­come law by the end of the year, ac­cord­ing to the Eco­nomic In­for­ma­tion Daily. (Photo 2)

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