China Raises Crude, Gas Resource Taxes From July 1

BEIJING -(Dow Jones)- China has raised the resource taxes imposed on crude oil and natural gas effective July 1, the State Administration of Taxation said.

The resource tax for crude oil has been raised to CNY14-CNY30 a metric ton, while that for natural gas is now CNY7-CNY15 a kilo cubic meter, a statement posted on the State Administration of Taxation’s Web site viewed Tuesday said.