China to fulfill pledge to eliminate import tax on Australian thermal coal: Canberra

Australian thermal coal cargoes arriving at China’s ports on January 1, 2017, and thereafter will be clear of the Asian country’s 2% import tax, currently equivalent to $1.50/mt, and levied on the delivered CFR South China price of shipments, said the Australian government Thursday.

Beijing introduced a 6% tax on all thermal coal imports with little advance warning in October 2014, and went on to lower its rate on Australian-origin thermal coal to 4% in December 2015, and then to 2% effective January 1, 2016.

 

Read Full at http://www.platts.com/latest-news/coal/perth/china-to-fulfill-pledge-to-eliminate-import-tax-27731661

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