Environment tax to be levied in China to curb pollution

0
54
China
China to implement environment tax as an attempt to the growing pollution menace. (Source: Wikipedia)

 

China
China to implement environment tax as an attempt to the growing pollution menace. (Source: Wikipedia)

China’s battle with increasing pollution menace in the country has made the government to create a law that will levy environment tax on polluters, especially the industries that are known to generate excess smoke and cause more pollution.

According to Reuters reports, this specific environmental protection taxe is something that is taking place for the first time and which will be implemented from the year 2018, as part of a renewed focus on fighting the country’s pollution woes. Anger has risen in the world’s second-largest economy at the government’s repeated failure to tackle land, water and air pollution, with large parts of northern China enveloped in dangerous smog these days.

ALSO READ:   NSG entry remains out of India's reach

Wang Jianfan, director of the Ministry of Finance tax policy department said that this law will be the key in fighting pollution.

The Environment Tax Law was adopted by the legislature, the National People’s Congress (NPC) Standing Committee on Sunday, The Economic Times reported.

Reuters also reported that the tax rate will be 1.2 yuan ($0.17) per unit of atmospheric pollution, 1.4 yuan per unit of water pollution, 5 yuan per tonne of coal waste ans 1,000 yuan per tonne of “hazardous waste.” Industrial noise polluters will also be levied 350 yuan per month if they exceed limits by 1-3 decibels, 700 yuan for 4-6 decibels and 11,200 yuan per month for 16 decibels and more.

ALSO READ:   Howard Schultz Calls it Quits as Starbucks CEO

But one issue that is present in the list of the tax levying pollutants, carbon dioxide which is one of the major contributors to global warming and other greenhouse gases are not present in the list.

Some industrialists also claim that the new tax proposal is too conservative and instead of increasing the tax burden of people, the government should cut other taxes related to business and replace it with this new tax. This will in turn help the government to force companies to have a thorough check on its environment protection performance.