Carbon Tax for China Likely Coming

10 January of 2012 by

china green flag pole5 Carbon Tax for China Likely Coming

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 atmosphere.

They would also receive tax cuts when they take steps to curtail emissions.

The government would apply the revenue from carbon taxes to reduce other kinds of business taxes, including income taxes.

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.

Original Article on SustainableBusiness.com

byd logo retro 295x170 Chinas Largest Energy Storage System Announced by BYD

Previous:

China’s Largest Energy Storage System Announced by BYD

dubai 295x170 Dubai Gets 1000 MW Solar Park

Next:

Dubai Gets 1000 MW Solar Park

You may also like

Post a new comment