【Summary description】The reform of coal resource tax ad valorem taxation has been implemented nationwide since December 1, 2014, which was decided at the 64th executive meeting of the State Council held on September 29.
The reform of coal resource tax ad valorem taxation has been implemented nationwide since December 1, 2014, which was decided at the 64th executive meeting of the State Council held on September 29.
It is understood that after the implementation of the coal resource tax ad valorem reform, relevant fee funds will be cleared at the same time. The collection or cancellation of coal related fees such as the coal price adjustment fund, ecological compensation fees for primary mineral products, and local economic development fees for coal resources will be completely suspended to ensure that the overall burden on coal enterprises is not increased.
According to the spirit of the meeting, the Ministry of Finance and the State Administration of Taxation of the People's Republic of China issued a notice in October on the implementation of coal resource tax reform. Specifically, the tax rate range is determined to be 2% - 10%, and the people's governments of provinces, autonomous regions, and municipalities directly under the Central Government will draw up applicable tax rates within this range. Areas with high current tax burden should appropriately reduce the burden level. Before the tax rate is announced, it must be submitted to the Ministry of Finance and the State Administration of Taxation for approval. In addition, coal mined during the depletion period can enjoy a 30% discount on resource tax, and for coal replaced by backfill mining, the resource tax can be reduced by 50%.
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