China Considers Mining Tax

15 June 2010 (Last Updated June 15th, 2010 18:30)

China is considering following in Australia's footsteps and increasing its resource tax. In a report in the China Daily, China's Government said it sees the resource tax as a way to slow resource depletion and the damage to the environment, while rebalancing the nation's economy

China is considering following in Australia's footsteps and increasing its resource tax.

In a report in the China Daily, China's Government said it sees the resource tax as a way to slow resource depletion and the damage to the environment, while rebalancing the nation's economy.

The country recently implemented a 5% resource tax on petroleum in Xinjiang.

The tax is being considered as a litmus test for an overall tax on the mining industry.

China does not have any history of enforcing tax on the resource industry.