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View Full Version : Sinopec Says Ministry of Finance Raises Oil Windfall Tax Threshold to $55 - Bloomberg



NewsWhore
01-05-2012, 12:30 PM
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Sinopec Says Ministry of Finance Raises Oil Windfall Tax Threshold to $55 (http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNH0EdbKN5uqFdEwMljvlqvs_vDkSQ&url=http://www.bloomberg.com/news/2012-01-05/sinopec-says-china-raises-oil-windfall-tax-threshold-to-55-1-.html)
Bloomberg
The net effect of the higher threshold is smaller than it appears, because the levy is assessed in US dollars and paid in yuan, and the Chinese currency has appreciated, said Neil Beveridge, a Hong Kong-based energy analyst at Sanford C. Bernstein & Co ...

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