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Bloomberg reported China has raised resources taxes on six minerals including iron ore.
Bloomberg reported China has raised resources taxes on six minerals including iron ore.
As quoted in the market news:
The tax on iron ore production was raised to 80 percent of a base rate, from 60 percent, effective from Feb. 1, the official China Taxation News said in a report today, citing a joint circular from the Ministry of Finance and State Administration of Taxation. The base rate is between 2 and 30 yuan ($4.76) a metric ton, depending on the ore grade, according to a government notice in October.