Guangzhou ocean oil production tax skyrockets - GD Economy - News Brief

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Guangzhou ocean oil production tax skyrockets

Latest Updated by 2004-11-26 15:59:30

According to figures released on Novmber 24th by the Guangzhou National Tax Bureau, , Guangzhou's ocean-based oil production industry contributed 2.8 billion yuan in taxes during the period from January to October, up 44 percent over the same period from last year.

The taxes include a value added tax on crude oil of 1 billion yuan and foreign-funded oil companies' revenue tax of 1.5 billion yuan, both up 48 and 37 percent respectively, over the same period from last year.

Editor: Olivia

By:Ryan Source:Radio Guangdong

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