(Yicai Global) Oct. 27 -- China will implement its Green Tax Law on Jan. 1 next year, and local governments are making relevant preparations for levying a green tax, Economic Daily reported.
The country will impose the tax on enterprises' discharge of pollutants, encouraging them to cut back on emissions and promoting environmental protection. Ministries and local governments are engaged in preliminary work, which includes establishing regulatory mechanisms for green tax collection and determining how much green tax groups will pay.
Authorities will mainly levy the tax on atmospheric and water pollutants as well as solid waste that companies discharge based on 115 pollution indicators that are more complicated than the sales revenue metrics involved in general taxation.
Local governments are preparing for green tax collection by sharing data, transferring information, checking groups' emissions and conducting field research. Some released their exposure drafts on local green tax collection.