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Oil Product Consumption Tax Adjusted

Source: www.gulfoilandgas.com 12/1/2014, Location: Asia

The Ministry of Finance and State Administration of Taxation announced in the notice issued on November 28, 2014, that the consumption tax of oil products will be increased.

By the Notice, from November 29, 2014, the unit consumption tax for gasoline, naphtha, solvent oil and lubricant will be increased by RMB 0.12/liter, and the unit consumption tax for diesel, jet fuel and fuel oil will be increased by RMB 0.14/liter. The consumption tax collection for the jet fuel will be postponed.

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