Reuters: China will slash value-added tax (VAT) on dimethyl ether (DME), an alternative fuel used in diesel and petrol engines, to boost the development of alternative energy amid soaring world prices. The government will cut VAT on dimethyl ether, a low emissions fuel, from 17 percent to 13 percent starting from July 1, the Ministry of Finance said in a notice posted on its website on Monday. It provided no other details. The adjustment removes the gap between the VAT rate levied on DME …