(Yicai) Jan. 12 -- China will speed up its inclusion of volatile organic compounds, a group of toxic chemicals found in building materials and fuels, in a list of substances that will be taxed.

China’s Environmental Protection Tax Law will be executed more widely with an inclusion of VOCs, the State Council of China announced recently, without disclosing the timetable.

VOCs are chemicals that release gases that cause health risks to humans but they can still be found in paints, cleaning products, and cosmetics.

VOCs can greatly influence the generation of ozone and particulate matter 2.5 in the atmosphere, Bai Yanfeng, dean of the School of Public Finance and Tax at Beijing's Central University of Finance and Economics, said to Yicai.

The topic has been on the agenda for a while as in November 2021, the cabinet suggested that an inclusion of VOCs under the scope of green tax should be discussed at an appropriate time whereas the latest document requires the move to happen as soon as possible.

The State Council said in 2021 that by 2025, the country should reduce its emissions of VOCs and nitrogen oxides by more than 10 percent from 2020. It should also limit the rising ozone density on the ground to control air quality. The State Council also called for better monitoring technologies targeting VOCs as calculation methods need to be refined.

During the 11 first months of last year, China's green taxes tallied CNY20.1 billion (USD2.8 billion), down 2 percent from a year ago. In 2022, China levied about CNY21.1 billion of such taxes, growing by 4 percent from 2021.

Editor: Emmi Laine