COFCO needs to pay taxes locally. According to the provisions of China's tax law, taxpayers of enterprise income tax include enterprises, institutions, social organizations and other organizations with income established in China in accordance with Chinese laws and administrative regulations. As an enterprise established in China, COFCO is required to pay taxes locally according to laws and regulations. Specific taxes include enterprise income tax, value-added tax, consumption tax, resource tax, urban maintenance and construction tax, education surcharge, etc.