State Council executive meeting decided in April on the 28th, from May 1, 2015, the rare earths, tungsten, molybdenum resource tax amount levied by the change from ad valorem, and not to increase the corporate tax burden in accordance with the principle of reasonable certainty tax rate. Meanwhile, to further clean up and standardize the charges, the rare earth mineral resources compensation rates, tungsten, molybdenum is reduced to zero, stop expropriation price adjustment fund, ban related charges fund local governments below the provincial irregularities established. Establishment of Mineral Resource equity fund system. April 30, the Ministry of Finance State Administration of Taxation issued "reform levied ad valorem notice on the implementation of rare earths, tungsten, molybdenum resources tax" levied on Measures include notification on the applicable rate on concentrate sales on ore sales and sales conversion concentrate on Ore associated minerals tax, on tax location, other details about the tax collection matters altogether link eight areas where the most attention is the tungsten resource tax applicable tax rate is determined as 6.5%. Under the New Deal tungsten resources tax and the downstream market will go from here, it will be elaborated on below.

All along, the resource tax reform in promoting China's economic growth mode change process plays a crucial role for the market in terms of significance. For the purposes of the current round of market participants tungsten ore resource tax reform is the heart like a mirror, to the main purpose is to respond to a series of tungsten exports after the impact of the market caused by the abolition of tariffs. Tungsten is an important strategic resource, in order to maintain market stability and development, not a lot of resources out of low-priced domestic market, exports of tungsten product has been subject to high export tariff restrictions. After the WTO case against the rare earth, China had to ban exports of tungsten products. After lowering the threshold for tungsten exports, the market worried about the latter will cause the domestic mining chaotic phase clusters, since it is not possible to control from the outlet, then concentrates on domestic regulation, therefore, the resource tax reform is undoubtedly the best choice. Tax reform would not only mining, tungsten prices some impact, for downstream product market tungsten carbide, high-speed tool steel will also have an impact.

Mining areas: the last resource tax is levied from the amount levied approach, that is to say how much the amount of ore mined on how much money to pay taxes, can be said to be one size fits all model. Resulting from the amount of taxable mining companies "Xianpinaifu" Bonanza is a lot of mining, and mine was idle while poor, is not conducive to the rational use of resources. If you have been a continuation of this idea, the latter once the high-grade ore was mined finish, then later the market is facing difficulties can only lean ore mining, when the market is extremely negative. Changed from ad valorem, mined ore will be calculated and paid resources in terms of concentrate sales tax on tax source configuration more scientific and rational, mining companies effectively guide the rational use of resources, market-friendly and sustainable development of.

Tungsten product prices: In the past tungsten ore resource tax is levied according to the amount of ore mined, charged at the standard 8 yuan / ton, if the ore concentrate in proportion of 1: 400 to calculate, then produce one ton of concentrate required ore resource tax paid 3,200 yuan. In addition to resource tax companies also need to pay compensation fees (compensation amount = sales of mineral products × compensation rate × mining recovery rate coefficient), tungsten concentrate resources compensation at a rate of 2%, exploitation of recovery was 80% Press now one ton concentrate 86,000 yuan / ton price to computing, enterprise selling one ton concentrate on the need to pay 1376 yuan compensation fee. Also according to the present one ton concentrate 86,000 yuan / ton price to calculate the new resource tax standard, sell one ton tungsten concentrate resources required to pay tax for the 5590 tax, do not pay compensation fee. So, in the current market price of tungsten ore, the implementation of the new resource tax, corporate sales a ton of tungsten concentrate more than ever before need to pay 1,000 yuan. After the increase in raw material costs tungsten concentrate, APT and tungsten iron production costs will go up 1500 yuan / ton. In addition, some parts of the New Deal tax will be canceled, for the market as a whole, the rate of increase in costs will be reduced, or may be minimal.


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Tungsten market: weak demand for tungsten powder market, the spot market inquiry, orders are less, plus guided month decline, lack of confidence powder manufacturers, external offer slightly lower, post-cash deal or as low as 200 yuan / kg. Tungsten concentrate side, 65% wolframite price of 8.2-8.4 yuan / ton, 55% of wolframite price of 8-8.2 yuan / ton, compared with the average price last week fell 1,000 yuan / ton. Domestic tungsten market trend is still downward, the price fell slightly, demand is still poor.

Weak tungsten powder market demand, the spot market inquiry, orders are less, coupled with lower guidance this month, lack of confidence powder manufacturers, external offer slightly lower, post-cash deal or as low as 200 yuan / kg.

Macro level, the central bank cut interest rates by 0.25 percentage points and extended floating in space; Russia signed 32 cooperation worth $ 25 billion, a number of listed companies to benefit; domestic gasoline and diesel prices will be "three rising."


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Ministry of Finance, State Administration of Taxation recently issued a circular on rare earths, tungsten, molybdenum resource tax levied reform issues clearly defined areas of light rare earths by the applicable tax rate from the implementation of different price, Inner Mongolia 11.5%. Heavy rare earth resource tax applicable tax rate is 27%, tungsten resource tax applicable tax rate is 6.5%. Molybdenum resource tax applicable tax rate is 11%.

To further promote the clearance fee tax legislation, rationalize resources tax relations, from May 1, 2015, the rare earths, tungsten, molybdenum resource tax from the amount of taxable valorem, and not to increase corporate taxes in accordance with negative principles reasonably determine the tax rate. Meanwhile, to further clean up and standardize the charges, the rare earth mineral resources compensation rates, tungsten, molybdenum is reduced to zero, stop expropriation price adjustment fund, ban related charges fund local governments below the provincial irregularities established. About taxable Regulations, rare earths, tungsten, molybdenum resource tax levied by the change from a fixed amount levied ad valorem rates. Rare earths, tungsten, molybdenum taxable products, including ore and ore concentrate from mining to processing. Taxpayers its mined ore processed into concentrate sales, according to concentrate sales (excluding VAT) and pay resource tax applicable tax rates. Taxpayers mining and ore sales, the ore sales (excluding VAT) in terms of concentrate sales tax is calculated and paid resources.

It is understood that, with regard to the implementation of rare earths, tungsten, molybdenum resource tax reform requirements, decided to clean up standard fee fund involving rare earths, tungsten, molybdenum, requiring the region around a comprehensive clean-specification introduced in the region involving rare earths, tungsten, molybdenum fees fund the project, Where a breach of administrative fees and government funds approval regulations, unauthorized introduction of fees to fund the project will be canceled. After clean-up involving rare earths, tungsten, molybdenum fund related charges, the relevant departments to perform their normal duties requirements by the central and local governments shall be guaranteed by the general public budget funding arrangements. All localities and departments should strictly implement the provisions of the announcement to cancel or stop collecting the fee fund must not delay or refuse to perform any reason can not be disguised by other names continue to charge.


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Tungsten market: Tungsten businesses wait and see mood strong, the market demand is very light, APT product is still unmarketable, prices continue to fall, was inverted, smelters home production enthusiasm is not high, and more than 125,000 post-market quotations or less. Ganzhou Tungsten Industry Association and the China Minmetals were announced in May the average price of tungsten concentrates forecast, which predicted the average price of wolframite reported 86,000 yuan / standard ton, are steady last month, it is expected to short-term market or temporarily holding stability the Lord.

Tungsten Market demand is very light, APT products are still poor sales, prices continue to fall, was inverted, smelters home production enthusiasm is not high, and more than 125,000 post-market quotations or less.

Macro level, the State Department pushing electricity supplier: encourage domestic listed Internet companies; trillion debt issuance local replacement recently launched: the use of directional + open mode; IMF expects 5.6 percent economic growth in the Asia-Pacific region.


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Tungsten market: resource tax reform act of increasing the cost of production of tungsten concentrate, but the implementation of the policy will take time, two days tungsten businesses wait and see mood strong, more waiting guidance issued smelter home ship upside down enthusiasm is not high, coupled with Prior to the production of tungsten concentrate stock, and the market volume was light. Tungsten concentrate not reflect the current market, the price is still steady weakening mainly tungsten concentrate.

Resource tax reform act of increasing the cost of production of tungsten concentrate, but it takes time to implement policy, combined with the production of tungsten concentrate inventory before more tungsten concentrate market currently reflects little tungsten concentrate price is still stable and weak based.

Macro, Beijing, Tianjin or leveraging one hundred trillion investment: 42000000000000 mainly for infrastructure; the State Council: to identify further decentralization, reform into depth; scale industrial profits surpass Shandong, Jiangsu over the nation.


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Ministry of Finance, State Administration of Taxation recently issued a circular on rare earths, tungsten, molybdenum resource tax levied reform related matters were clear from the price. The notice stipulates that the light rare earth by regions perform different applicable tax rate, which was 11.5% in Inner Mongolia, Sichuan, 9.5%, 7.5%, Shandong. Heavy rare earth resource tax applicable tax rate is 27%. Tungsten resource tax applicable tax rate is 6.5%. Molybdenum resource tax applicable tax rate is 11%.

To further promote the clearance fee tax legislation, rationalize resources tax relations, decided April 28 executive meeting of the State Council, from May 1, 2015, the rare earths, tungsten, molybdenum resource tax amount levied by the change from ad valorem, and in accordance with the principle of no increase in the corporate tax rate be reasonably determined. Meanwhile, to further clean up and standardize the charges, the rare earth mineral resources compensation rates, tungsten, molybdenum is reduced to zero, stop expropriation price adjustment fund, ban related charges fund local governments below the provincial irregularities established.

About taxable approach, the notification requirement, rare earths, tungsten, molybdenum resource tax levied by the change from a fixed amount levied ad valorem rates. Rare earths, tungsten, molybdenum taxable products, including ore and ore concentrate from mining to processing. Taxpayers its mined ore processed into concentrate sales, according to concentrate sales (excluding VAT) and pay resource tax applicable tax rates. Taxpayers mining and ore sales, the ore sales (excluding VAT) in terms of concentrate sales tax is calculated and paid resources.

The notice also will concentrate in terms of sales, sales and ore concentrate sales, Ore, associated taxes, tax aspects, tax location, etc. were clearly mine.

Meanwhile, the Ministry of Finance, the National Development and Reform Commission of the State Council on the implementation of rare earths, tungsten, molybdenum resource tax reform requirements, determine clear norms involving rare earths, tungsten, molybdenum fee fund, and clearly related matters. He asked the provinces, autonomous regions and municipalities in the region to introduce a comprehensive clean-specification relates to rare earths, tungsten, molybdenum fees fund the project, a contravention of administrative fees and government funds approval regulations, unauthorized introduction of fees Fund project to be canceled. After clean-up involving rare earths, tungsten, molybdenum fund related charges, the relevant departments to perform their normal duties requirements by the central and local governments shall be guaranteed by the general public budget funding arrangements. All localities and departments should strictly enforce the provisions of this notice, to cancel or stop collecting publication fees fund, may not delay or refuse to perform any reason can not be disguised by other names continue to charge.


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It was informed that the State Council approved the implementation of a rare earth, tungsten, molybdenum resource tax clearance fee tax legislation since May 1, 2015, ad valorem levied reform.

Ministry of Finance, State Administration of Taxation issued "on the implementation of the rare earths, tungsten, molybdenum, ad valorem resource tax reform notice" that taxpayers be mined ore processed into concentrate sales, according to concentrate sales (excluding VAT) and pay resource tax applicable tax rates. Taxpayers mining and ore sales, the ore sales (excluding VAT) in terms of concentrate sales tax is calculated and paid resources.

In applicable tax rates, notice clearly: Light rare earths by regions perform different applicable tax rate, which was 11.5% in Inner Mongolia, Sichuan, 9.5%, 7.5%, Shandong; the heavy rare earth resource tax applicable tax rate is 27%; tungsten resource tax applicable the tax rate is 6.5 percent; molybdenum resource tax applicable tax rate is 11%.

At the same time, notify the clear, and rare symbiosis, associated iron ore, iron ore resource tax levied at the time, which allowed the deduction of symbiosis, the number of rare earth mineral associated; and rare earths, tungsten and molybdenum symbiosis, associated should tax product, or rare earths, tungsten and molybdenum as symbiosis, associated minerals, before the reform of resource tax levied not alone, they will not levy resource tax reform.

In addition, the notice also of rare earths, tungsten, molybdenum resource tax tax aspects, location and other tax collection matters further clear.

Market participants said the move will help to achieve the rare earth resources tax unification, the market environment is more fair to mobilize the enthusiasm of local governments.

At the same time, it will increase the cost of rare earth production, reduce corporate profits, but also help promote the rare-earth prices from the source.


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