China Intends To Abolish The Consumption Tax Of Biodiesel.

As report goes,

The national tax administration and the Ministry of finance are drafting documents on the abolition of the consumption tax on biodiesel, which is expected to be published next year, a member of the national biodiesel industry collaboration group said.

In December 2008, the State Council's notice on implementing the reform of refined oil prices and taxes and charges put biodiesel into the scope of consumption tax collection.

At present, the amount of biodiesel consumption tax is the same as that of diesel oil, which is 0.8 yuan / liter.

Reported and quoted analysts pointed out that if the consumption tax policy is officially introduced, biodiesel and ordinary diesel will have a cost difference of more than 900 yuan, which is a great advantage for biodiesel production enterprises.