Beijing to levy consumption tax on imported mixed aromatics, light cycle oil, bitumen blend from June 12

S&P Global Platts | May 14, 2021 at 11:49 AM
  • China’s finance ministry said May 14 imports of mixed aromatics, light cycle oil and bitumen blend will be subject to consumption tax from June 12.
  • Imports of mixed aromatics, used as a component of gasoline, and LCO, which is used to blend gasoil, will be subject o consumption tax at the same rate as naphtha, at Yuan 1.52/liter or $37.53/b.
  • The introduction of a consumption tax on these products had been mooted for years — with talk in the market earlier in the year that it could come in at the start of May.