China

Details

  • Service: Tax
  • Industry: Industrial Markets, Energy & Natural Resources
  • Type: Business and industry issue, Publication series, Regulatory update
  • Date: 1/19/2012

China raises the exemption threshold of Petroleum Special Profits Tax 

China alert: Energy & Natural Resources Focus - Issue 1, January 2012

 

The Ministry of Finance (MoF) issued the Circular Cai Qi [2011] No. 480 (Circular 480) on 29 December 2011 to increase the exemption threshold of Petroleum Special Profits Tax from USD 40 per barrel to USD 55 per barrel. Circular 480 have been applied from 1 November 2011.

 

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