China sets January 1 for new fuel tax implementation

摘要

Singapore—China is set to implement its much-anticipated fuel consumption tax hikes on January 1, 2009, the country's state council said December 5. Under the new tax system, the levy on gasoline will rise fivefold to Yuan 1/liter (15 cents/liter), while that on gasoil will go up to Yuan 0.8/liter from the current 0.1/liter. Six fees currently charged for road and waterways maintenance will be abolished at the same time.