摘要
Oil windfall tax threshold raised to US$55 China's two largest oil producers,PetroChina and Sinopec Corp,said in early January that the Ministry of Finance(MOF)has raised the exemption threshold on the so-called'windfall tax'on upstream oil producers to US$55 per barrel of crude oil since November 2011. The levy,described by the MOF as a'special oil sales charge',will be set at a progressive rate between 20 and 40 percent on the excess of the average realized oil price from a base of US$55 per barrel,compared with US$40 previously,the oil companies said.The charge is
Oil windfall tax threshold raised to US$55 China＇s two largest oil producers, PetroChina and Sinopec Corp, said in early January that the Ministry of Finance （MOF） has raised the exemption threshold on the so-called ＂windfall tax＂ on upstream oil producers to US$55 per barrel of crude oil since November 2011. The levy, described by the MOF as a ＂special oil sales charge＂, will be set at a progressive rate between 20 and 40 percent on the excess of the average realized oil price from a base of US$55 per barrel, compared with US$40 previously, the oil companies said. The charge is 20 percent when the price is between US$55 and US$60 and will rise progressively by 5 percentage points for every US$5 increase to a limit of 40 percent when the price sits above US$75 per barrel.
