China is among the world's largest emitters of greenhouse gas and has set goals for cutting emissions. The government has vowed to reduce carbon intensity, or the amount of carbon dioxide emitted per unit of economic output, by 40 to 45 percent by 2020 in comparison to 2005 levels. China will proactively introduce a set of new taxation policies designed to preserve the environment, including a tax on carbon dioxide emissions.
The government will collect the environmental protection tax instead of pollutant discharge fees, as well as levy a tax on carbon dioxide emissions, Jia Chen, head of the Ministry of Finance's tax policy division, wrote in an article published on the MOF's website.
[Xinhua - Chinese State News Agency]
[Xinhua - Chinese State News Agency]
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