In a recent "2016 China development high-level BBS", finance minister Lou jiwei said that China will expand the collection scope of resource tax this year, changing from the quantity and the amount to the price. Some industry insiders say that the reform is in some ways a way to save China's mining industry from "water fires", which is of great significance for reducing the burden of mining enterprises in the current market environment.
Resource tax refers to all kinds of taxable natural resources as the object of taxation, in order to adjust the differential income resources and reflect the state-owned and levied a tax paid use of resources, a way from quantity and price from the two. From volume way to commodity production to collect tax, AD valorem duty is in accordance with the company's sales tax revenue in proportion, the collection of amplitude with the enterprise benefit and market volatility, relative to the volume of the way, more able to objectively reflect the operating conditions of the enterprise.
It is understood that the resource tax has been levied in China since 1984. After the adjustment, the current tax collection includes crude oil, natural gas, coal, other non-metallic ore mines, black metal ore mines, non-ferrous metal ore mines, salt and other seven items. Among them, the resource tax of coal, oil and natural gas is calculated from the price, but the remaining black, non-ferrous, precious metal, non-metal and nearly 100 mineral species are still from the quantitative method.
According to the data, the tax rate of the seven categories of items is: crude oil is taxed at 5% to 10% of sales; Gas is taxed at 5% to 10% of sales; Coal shall be levied at a rate of 2% to 10% of sales, and the specific applicable tax rate shall be drawn up by the provincial government. Other non-metallic ore deposits shall be levied at a normal rate of 0.2~5 yuan per ton or per cubic meter; The original ore of precious metal shall be charged per kilogram or 0.2~5 yuan per carat. The black metal ore is collected at 2~30 yuan per ton; In the mine of non-ferrous metals, rare earth ore is collected at 0.4~60 yuan per ton, and other non-ferrous metal ore deposits are collected at 0.4~30 yuan per ton. Salt is collected at 2~10 yuan/ton.
Some industry insiders say that the price of mineral products has fallen sharply, and 90% of the mines are in the red, and if the resource tax is still from the volume, it will undoubtedly aggravate the burden of enterprises. But instead the AD valorem duty, in line with the mining economic development rule, is advantageous to the enterprise resources tax burden, can make enterprise improve production management level and resource utilization, the elimination of high energy consumption, low technical content of the enterprise.
Moreover, on BBS, Mr Lou revealed that a carbon tax would not be set up separately this year, but could also be placed in environmental taxes. Environmental tax is an economic means to distribute environmental resources through market mechanism, which is the social cost of environmental pollution and ecological destruction, internalized into production cost and market price. A carbon tax is a tax on fossil fuels for emissions, which are the carbon content of fossil fuels. In theory, carbon tax is the most efficient tool to deal with "cumulative pollution", since it does not involve allocation and protection of emission reductions.