China Likely to Begin Carbon Tax Within Next 3 Years
China will likely begin taxing carbon emissions in
the next three years, reports China Daily.
A draft of how the system would work is under review
by China's Ministry of Finance.
Companies - those that produce or use large quantities
of coal, crude oil and natural gas - would pay a
gradually increasing tax for each ton of CO2 discharged into the
They would also receive tax cuts when they take steps to curtail
The government would apply the revenue from carbon taxes
to reduce other kinds of business taxes, including income
A tracking system has yet to be established, a key part of the
plan. "Unlike the measurement of pollutants, carbon emissions
can be found in all parts of the value chain," Lin
Boqiang, director of Xiamen University's China Center for Energy
Economics Research told China Daily.
The National Bureau of Statistics plans to run benchmark
tests this year to measure carbon emissions
and power consumption.
For more information
(Source: 10/01/2012, SustainableBusiness.com, Chaina Likely to
Begin Carbon Tax With Next 3 Years, Accessed on 12/01/2011)
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