China's State Council recently published draft legislation for the introduction of a new environmental protection tax (EPT). The new tax will replace the current system of pollution fees, which are not compulsory and are poorly implemented. The forms of pollution covered include water, air, solid waste and noise. The proposed standard rates are as follows:
- Water pollution: RMB 1.4 per pollution equivalent value unit;
- Air pollution: RMB 1.2 per pollution equivalent value unit;
- Solid waste: RM…