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Shenghong receives consumption tax refund on naphtha

Guangzhou (JLC), August 30, 2024 – Shenghong Petrochemical has recently received a consumption tax refund of CNY4.33 million on naphtha.

08-30-2024 18:43:13

Overseas investors of crude futures exempted from individual income tax

Guangzhou (JLC), September 6, 2023--Overseas individual investors can now enjoy an exemption from individual income tax on the income obtained from investing in Chinese domestic crude oil futures.

09-06-2023 15:55:13

Fuel prices on 4-day bull run amid stronger crude and tax policy

Guangzhou (JLC), July 6, 2023 – Domestic gasoline and diesel prices have extended an uptrend since the beginning of this week, tracking international crude and boosted by the announcement of tax.

07-06-2023 18:59:06

Blendstock prices rise after consumption tax made official

Guangzhou (JLC), July 3, 2023 – Prices of some blendstocks rose significantly over the weekend after China announced on June 30 that somes fuel blending components would be subject to consumption tax.

07-03-2023 18:29:52

China announces consumption tax on alkylates, mixed aromatics

Guangzhou (JLC), June 30, 2023--China has imposed a consumption tax on alkylates (isooctane), an important component for blended gasoline, as from June 30, 2023.

06-30-2023 22:53:42

China INE crude price slips after Biden proposes suspending federal gas tax

Guangzhou (JLC), June 23, 2022--The price of crude futures on China’s Shanghai International Energy Exchange (INE) retreated on Thursday, amid downward pressure from the US President Biden’s proposal

06-23-2022 18:49:59

China’s mixed aromatics imports plunge in Jan-Feb on consumption tax

China’s mixed aromatics imports fell during January-February of 2022, owing to the country’s levy of a consumption tax.

04-08-2022 19:57:08

China's LCO imports slump on tax in October

Beijing (JLC), November 29, 2021--China’s light cycle oil (LCO) imports dropped sharply in October 2021, which was still ascribed to the levy of consumption tax on imported LCO and China’s clampdown on oil blending, though domestic diesel demand was strong due to the power rationing.

11-29-2021 16:06:18

Shandong launches campaign on oil product taxation

Guangzhou (JLC), November 17, 2021--Shandong province has recently launched a campaign on the taxation of oil products, in a bid to crack down on violations of taxation regulations, according to an urgent notice released by the province on November 15.

11-17-2021 16:19:10

Guangdong further promotes taxation reform of oil products

Beijing (JLC), August 25, 2021--The local tax government in southern Guangdong province is further promoting the taxation reform in Zhaoqing, the local government said on its website.

08-25-2021 14:41:12

China’s LCO imports drop in June on consumption tax

Beijing (JLC), July 27, 2021--China’s light cycle oil (LCO) imports dropped in June 2021 as a consequence of the levy of consumption tax on the diesel blending feedstock.

07-27-2021 17:38:30

New tax regulation to hit China's jet fuel production

Guangzhou (JLC), June 24, 2021--China’s State Taxation Administration (STA) has released a new regulation on the sale of and tax on jet fuel, to bring the sale of jet fuel under control and strengthen taxation in the trading sector, which will hit the country's jet fuel production.

06-24-2021 15:45:51

Shandong receives lots of diluted bitumen before tax takes effect

Guangzhou (JLC), June 4, 2021--Shandong still received lots of imported diluted bitumen over May 29-June 4, before consumption tax is imposed on the feedstock as from June 12.

06-04-2021 14:17:10

China tax levy on LCO, MA to hit low-quality products, ease glut

Beijing (JLC), May 19, 2021--China’s levy of consumption tax on light cycle oil (LCO) and mixed aromatics (MA) will lead to a sharp decline in cheap low-quality product supply and help ease the supply glut in China’s oil product market.

05-19-2021 16:47:13

China tax levy on MA, LCO to hit imports, affect product balance

Beijing (JLC), May 17, 2021--China will soon begin to levy consumption tax on mixed aromatics (MA) and light cycle oil (LCO) imports, expected to slash China’s imports of the two blendstocks and affect the overall oil product market balance.

05-17-2021 17:27:17

China announces tax on imported MA, LCO and diluted bitumen

Guangzhou (JLC), May 14, 2021--China will begin to levy consumption tax on three kinds of imported products that mainly cover mixed aromatics (MA), light cycle oil (LCO) and diluted bitumen as from June 12, which will hit the imports of these products while boosting demand for some other products.

05-14-2021 17:10:44

Guangdong to launch taxation reform of oil products

Beijing (JLC), April 14, 2021--The local tax government in Guangdong plans to levy the tax on oil products based on the sales volumes at petrol stations instead of from refineries, an industry source said.

04-14-2021 16:22:05

Proposed consumption tax on LCO could dampen imports

Beijing (JLC), March 10, 2021--The consumption tax on light cycle oil (LCO) proposed at China’s Two Sessions earlier this month could dampen the country’s LCO imports, as the blendstock would be deprived of its price advantage by the tax.

03-10-2021 10:35:02

Proposed consumption tax on mixed aromatics could dampen imports

The consumption tax on mixed aromatics proposed at China's Two Sessions earlier this month could dampen the country’s mixed aromatics imports, as the blendstock would be deprived of its price advantage by the tax.

03-08-2021 17:22:30

Shandong independents to pay windfall profit tax for 2020

Shandong-based independent refiners should pay the windfall profit tax for 2020 by the end of February 2021, according to official requirements, which will hit their refining margins.

02-02-2021 16:26:44

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