China hikes leaded gasoline import tax fivefold

China will increase fuel consumption tax on leaded gasoline imports fivefold to 1.4 yuan per litre from Jan.1, the Finance Ministry said on Tuesday, effectively discouraging imports of more polluting motor fuel.
 
The ministry also raised the tax on other imported fuels in line with taxes on domestically produced fuels. But its tax rates on domestically produced fuels, published on Dec. 19, had not given separate rates for leaded and unleaded gasoline.
 
Under those rates, all domestic gasoline will be subject to a consumption tax of 1.0 yuan per litre.
From:Reuters

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