Ministry Slaps Tax on Crude Exported by Foreign Joint Ventures

Beijing will impose an export duty on Sino-foreign offshore oil-exploration joint ventures, the Ministry of Finance said. The duty will be levied on crude oil exported by the foreign party in the JV contract, the ministry said in a joint statement with the General Administration of Customs. The new export duty will take effect Aug. 1, it said.
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Posted by: on Friday, July 27th, 2007