China Considers Mining Tax

Source:

"China is considering following in Australia's footsteps. . ."

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

In a report in 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.

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