China May Introduce Environment Protection Tax, Xinhua Says

China may introduce an environment protection tax by the end of 2015, the official Xinhua News Agency reported today, citing Jia Kang, head of the Chinese Finance Ministry’s research institute for fiscal science.

The country may start levying the environment protection tax to boost fiscal revenue and make room for adjustments in corporate tax, Jia was quoted as saying in a conference in Shanghai today.

The government will also raise spending next year on agriculture, social welfare such as low-cost housing, and medical reform, the report said, citing Jia.

To contact Bloomberg News staff for this story: Feiwen Rong in Beijing at frong2@bloomberg.net

To contact the editor responsible for this story: Richard Dobson at rdobson4@bloomberg.net

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