China Will Impose Environmental Protection Tax On January 1, 2018
China will impose environmental protection tax on January 1, 2018
On December 25th, 2016, the environmental protection tax law was approved and passed by the twenty-fifth meeting of the twelve session of the Standing Committee of the National People's Congress.
This is China's first single tax law to promote the construction of ecological civilization, which will be implemented on January 1, 2018. More sewage companies pay more taxes, while less sewage companies can enjoy tax relief.
Analysts believe that tax revenue will be significantly increased once the environmental tax levied, the annual environmental tax levy is expected to scale up to 50 billion RMB.