[High-tech LED News] The Ministry of Finance of the Republic of Korea recently released a report on the status and enlightenment of the resource tax of major resource producing countries. The report pointed out that the major resource producing countries such as China and Australia raised the resource tax rate and will The production and export of the product have a negative impact.
According to the report, in order to protect rare metal resources, China raised the tax on rare earth resources to 10-20 times in April. At the same time, it plans to officially reform the resource tax system in the second half of 2011, which will target the crude oil and natural gas tax rates from the current 5%. Raising to 5% to 10% will lead to an increase in the import prices of coal, iron ore, and rare earth resources.
These measures will face a lot of pressure on Korean resource companies entering China and Australia, including LED and LCD companies.
According to the report, in order to protect rare metal resources, China raised the tax on rare earth resources to 10-20 times in April. At the same time, it plans to officially reform the resource tax system in the second half of 2011, which will target the crude oil and natural gas tax rates from the current 5%. Raising to 5% to 10% will lead to an increase in the import prices of coal, iron ore, and rare earth resources.
These measures will face a lot of pressure on Korean resource companies entering China and Australia, including LED and LCD companies.
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