The first resource tax law will be implemented on September 1 next year, and the tax rate of gold resource tax will be adjusted to 2%-6%
On August 26, the 12th meeting of the Standing Committee of the 13th National People's Congress voted to pass China's first resource tax law. The new tax law has simplified the collection period, standardized tax items and tax rates, and strengthened departmental coordination. Among them, the resource tax rate of gold and silver is adjusted to 2% to 6%, with raw ores or beneficiation as the tax object. The new tax law will be implemented on September 1 next year, and the current "Provisional Regulations of the People's Republic of China on Resource Tax" will be repealed at the same time.
The person in charge of the Economic Research Institute of the Ministry of Natural Resources said that the grades of gold ore and beneficiation are quite different. The new tax law still needs to use different conversion ratios when collecting resource taxes. According to the current conversion ratio, there should be little change. .
● In December 1993, the State Council promulgated the Provisional Regulations on Resource Tax, and the resource tax is levied based on quantity.
● In September 2011, the State Council made partial amendments to the Provisional Regulations, clarifying that the resource tax shall be calculated and levied according to the ad valorem fixed rate or the specific fixed rate method, which stipulates that other non-ferrous metal mines except rare earth mines shall be determined as per ton. 0.4~30 yuan.
● Since July 1, 2016, the resource tax ad valorem reform has been fully implemented. The gold mine tax rate is limited to 1% to 4%, with gold ingots as the tax object.
● On November 20, 2017, the Ministry of Finance and the State Administration of Taxation publicly solicited opinions on the "Resource Tax Law of the People's Republic of China (Draft for Comment)", in which the resource tax rate of gold is 3%~6%.
● On December 23, 2018, the draft resource tax law was submitted to the Standing Committee of the National People's Congress for deliberation for the first time, starting the process of upgrading from the interim taxation regulations to law.
Bu Xianglai, Director of the Property and Behavior Tax Department of the State Administration of Taxation, introduced at the press conference that compared with the Provisional Regulations on Resource Tax, there are three main new changes in the Resource Tax Law.
1. The collection period has been simplified, which is conducive to reducing the tax burden. The new tax law stipulates that taxpayers can choose to declare and pay on a monthly or quarterly basis, and the declaration period will be changed from 10 days to 15 days, which is consistent with other taxes. This will significantly reduce the frequency of taxpayers' declaration and reduce the tax burden.
2. Standardize the tax item and tax rate, which is conducive to simplifying tax declaration. The new tax law uniformly regulates the tax items in the way of positive enumeration. All current taxable resource products are listed in the tax law. There are currently 164 tax items listed, covering all the minerals and salt that have been discovered, and The classification determines the tax rate and provides a system basis for simplifying tax declaration.
3. Strengthened departmental coordination, which is conducive to safeguarding the rights and interests of taxpayers. The resource tax collection and management work is highly professional and technical. In particular, the determination of tax reduction and exemption situations requires the cooperation and assistance of relevant departments. For example, the tax law provides for a 30% reduction in resource tax on minerals mined in depleted mines, and authorizes provinces to reduce or exempt resource taxes on low-grade mines. The prerequisite for implementing this policy is the identification of depleted mines and low-grade mines. The new tax law clearly stipulates that tax authorities and relevant departments such as natural resources should establish a work coordination mechanism. Good departmental collaboration is conducive to reducing levy disputes and safeguarding the legitimate rights and interests of taxpayers.
In an interview with the media, Zhou Hongyu, a member of the Standing Committee of the National People’s Congress, said that raising the provisional regulations on resource tax to the level of the law reflects the requirements for promoting the intensive and economical use of resources and strengthening ecological and environmental protection, and adapts to the concept of green, coordinated and shared development. Future legislation has set a good example.
"For many years, the concept of taxes, fees, and money related to resources in China has been unclear, causing various charges to overlap. The administrative regulations formulated by the State Council for resource taxes have been elevated to a law passed by the Standing Committee of the National People's Congress, which is a legal principle of taxation. The concrete manifestation has a positive effect on the high-quality development of China's mining industry." said Cao Xusheng, director of the Mineral Resources Legal Affairs Department of Jingshi Law Firm.
Bu Xianglai pointed out that from now on, the taxation department will go all out to make preparations for the implementation of the new tax law, including formulating supporting collection and management methods, optimizing forms and documents and collection management information systems, and doing a good job in tax law publicity and interpretation, tax guidance and business Training and other matters to ensure the smooth implementation of the Resource Tax Law on September 1 next year.
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