Tax for oil consumption?
By Joy Wang |
December 24, 2015, Thursday
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Print Edition
Print Edition
THE Chinese Academy of Social Sciences has suggested that China should raise taxes for oil consumption to help domestic refineries struggling with declining profits.
The global oil prices have collapsed from over US$115 per barrel last year to US$45 at the end of last month. The prices are expected to hover between US$50 and US$65 per barrel next year. As one of the world’s largest oil importers, China should not ease its control over energy consumption because of low oil prices, the think tank said in a report.
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