China’s massive biodiesel imports caused by tax-evasion scheme

December 9, 2013 |

In China, biodiesel imports in the first nine months of the year were ten times higher than that of last year. Investigations blame the fact that the consumption tax for imported biodiesel can be waived as the reason why many Chinese importers buy general diesel oil, which contains a small amount of biodiesel, to avoid the consumption tax. The avoidance is estimated to have cost $209m between January and September 2013; since the numbers emerged, importers have begun to suspect that a new policy will be implemented sometime this month.

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Category: Fuels

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