Standard & Poor’s Ratings Services said its rating on Panva Gas Holdings Ltd (foreign currency rating; BB+/Stable/–) would not be affected by an alteration to tax rules that govern mainland China’s pipeline connection fees. An existing 3% business sales tax will be replaced by a 13% value added tax. Standard & Poor’s expects that Panva…
CHINA: S&P says Panva Gas rating unaffected by higher tax on pipeline connection fees
Posted on October 13, 2003 by EnergyAsia