China alert - Issue 3, January 2011
The Ministry of Finance (MOF)and the State Administration of Taxation (SAT) jointly issued Circular 118 to retroactively exempt pure biodiesel made from waste animal fat or vegetable oil from consumption tax, effective from 1 January 2009. The issuance of this circular demonstrates the Chinese government’s increased encouragement of the renewable energy industry and is a result of active feedbacks and petitions by major players in this field.
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