Indias iron ore export tax changes a 2 year report

Industry News 2010-03-16 11:15:21

 

Source : Reuters
Published : March 11
 
 
 
NEW DELHI (Reuters) – The government has adjusted its export tax on iron ore several times over the last two years as the government tries to contain inflation and meet demand from domestic industries.
Following is a chronology of the changes:
2009
- December - Increased duty on iron ore lumps to 10 percent and imposed a 5 percent duty on fines as prices rallied and moved above a psychologically key level of $100 a tonne.
2008
- December - India cut duty on lumps to 5 percent, zero on fines as exports started tapering sharply after the end of the Olympic Games in biggest consumer China.
- November - Imposed a duty of 8 percent on iron ore fines to cushion the impact of the flat rate earlier.
- October - It set a flat rate of 200 rupees ($4) per tonne on fines to separate them from high duty on higher grade ores.
- June – It imposed a duty of 15 percent on exports of both lumps and fines as part of measured to curb inflation.
The articles appearing in this section are reproduced from the respective sources mentioned in the respective articles.
The articles are reproduced in this website as being of interest to the target audience of this website.
However, we do not affirm, confirm, endorse, accept or authenticate the articles or the contents thereof, and, consequently, we take no responsibility for the contents, accuracy, authenticity, correctness or otherwise of or for any loss, damage, cost or expense caused, either directly or indirectly, by the contents of the articles reproduced in this section and readers are accordingly requested to exercise their own discretion.

Comments on "Indias iron ore export tax changes a 2 year report"

There are no comments on this news yet.

Post your comment on "Indias iron ore export tax changes a 2 year report"