It has been announced that the details of China's fuel tax reform formula are to be made public after being reviewed by the country's National Development Reform Commission (NDRC).
The draft formula, once ready, will be released for public consultation, Zhang Ping, minister of the NDRC announced at a press conference on November 27.
"The goal for this reform is to highlight four concepts, which are fair taxation, a regulated charging system, energy conservation and less financial burden for the people", Zhang commented, adding:
"It is fair that the more people consume oil the more they have to pay for it."
According to Zhang, by replacing the maintenance fee for roads, navigation systems and road tolls with a fuel tax, car owners will pay less than before.
"By replacing the fees with fuel taxes, we also hope to regulate road toll stations that used to charge drivers for no legal reason", Zhang concluded.
It is thought that the new tax will be levied at a rate of CNY1 (USD0.146) per litre of fuel, with petrol pump prices allowed to fall (or increase) in line with the price of crude oil on the international markets (petrol prices in China are currently fixed).
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