China lifts biodiesel consumption tax

In China, the central government has lifted the biodiesel consumption tax that will lower biodiesel costs by up to $135 per metric ton. The policy will be retroactive to Jan. 1 2009 and taxes already paid will be refunded. As a result, shares in Gushan (a Biofuels Digest Index stock) were up 39.06 percent, as it will prompt added production and will allow for the reverse of some tax reserves on the Gushan balance sheet.

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