newsChina: Environmental Protection Tax Law Takes Effect on 1st Jan. 2018

news

A woman wearing a protective pollution mask rides a bicycle in Beijing on March 20, 2017.  
The last large coal-fired power plant in Beijing has suspended operations, with the city's electricity now generated by natural gas, the state news agency reported as smog enveloped the Chinese capital this weekend. / AFP PHOTO / NICOLAS ASFOURI
02 Jan

China: Environmental Protection Tax Law Takes Effect on 1st Jan. 2018

Beijing – China started, Monday, collecting an environment tax to better protect the environment and cut pollutant discharge, as its Environmental Protection Tax Law took effect on January 1st, 2018.

The introduction of the tax called an end to the “pollutant discharge fee” which China had been collecting for nearly 40 years.

This is China’s first tax clearly designed for environmental protection, which will help establish a “green” financial and taxation system and promote pollution control and treatment of pollutants, said head of the Chinese Academy for Environmental Planning, Wang Jinnan.

Under the Environmental Protection Tax Law, which targets enterprises and public institutions that discharge listed pollutants directly into the environment, companies will pay taxes for producing noise, air and water pollutants as well as solid waste.

According to estimates, up to $ 7.68 billion could be collected annually from the new tax.

See also