摘要
China＇s Central Government began imposing a special profit tax on oil companies from March 26 so long as the prices of domestically produced crude oil exceed USS40 per barrel. This is an essential way to make oil companies shoulder their social responsibilities. According to the State Council and the Ministry of Finance, the graduated tax rate starts at 20 percent and rises with the barrel price. A maximum 40 percent tax is charged for barrels that are USS60 and higher. It will be calculated every month, and companies are required to make quarterly payments.
