Resource tax reform next stop: tungsten, molybdenum, iron ore or delayed

Rare resource tax reform on the agenda, tungsten, molybdenum will become the vanguard; the industry long-awaited tax reform or delay iron ore resources.

Ministry of Industry and Raw Materials Division yesterday (February 11) released the "2014 China's nonferrous metals industry in 2015 to analyze and Prospect." In this focus on copper, aluminum, lead, zinc production, investment, import and export, outlined pressure, in addition to research and draft "non-ferrous metals industry," Thirteen Five "development plan", "gold industry" Thirteen Five "Development outside planning "and" aluminum industry guidance "three" Thirteen five "industry development plan, penultimate word not much, but every word is important - this is the focus of the work of the six non-ferrous industry management in 2015 the five "rare improve management." Tasks set out in this work are: to promote the introduction of "rare Regulations"; adjust rare issued mandatory production plan ways to explore issued paratungstate smelting production targets; research-driven tungsten, molybdenum resource tax reform.

These three measures concerning the United States and Europe to the WTO complaint Chinese rare earths, tungsten, molybdenum export management measures related case (hereinafter referred to as rare case) execution of the judgment, of which the first two associated with the earth, is still closely linked to China after a rare case in involved tungsten, molybdenum resources. According to the "Daily Economic News" reporter, resource tax reform is a systematic project involving the central, local and on downstream businesses, which means that the schedule after the Ministry explicitly tungsten, molybdenum resource tax reform to mention, very anxious voice domestic iron ore resource tax reform introduced time or later than expected.

How rare tube

Tungsten, molybdenum, lead resource tax reform background dates back to 2012.

March 2012, United States and Europe for Chinese rare earths, tungsten, molybdenum related products export quotas and other management measures to prosecute to the WTO. December 13, 2013, the panel submitted its final report for up to 261, March 26, 2014, the WTO preliminary export quota of rare earth, tungsten, molybdenum related products taken, export licenses and export restrictions price measures are inconsistent with WTO regulations, followed by an appeal to China, but in the final ruling in August 2014, the WTO ruled that China's rare earth export policy is still illegal.

After this, the rare areas of continuous action. August 2014, Baotou Steel Rare Earth, Xiamen Tungsten and aluminum companies have confirmed their Rare Earth Group's plan to get the Ministry of Industry for the record, then, Minmetals, Ganzhou Rare Earth Rising colored and also has approved the formation of the rare earth group. Su Bo, vice minister of the Ministry of Industry on January 28 this year, said the six Rare Earth Group will integrate all the country's separation of rare earth mining and smelting enterprises before the end of 2015, to achieve a substantial reorganization of assets as the link.

Su Bo also said that the development and introduction of "rare Regulations" in 2015 as the industry's priorities. He said, according to the general requirements of the State Council, resource tax reform, pay close attention to the introduction of relevant rare earth resource tax reform program to improve the motivation and the ability to protect local resources to meet the WTO rules, to achieve effective protection and rational exploitation of rare earth resources. According to the development needs of the industry, the Ministry will amend the "rare earth mandatory production plan management approach", "rare earth industry access" documents and other departments to further improve management measures.

In addition, this year the Ministry of Commerce revoked the rare earth export quota management, to license management; May 2, rare earth export tariffs will face the cancellation deadline, so the introduction of resource tax is extremely urgent.

An official from the Ministry of Land told the "Daily Economic News" reporter about the reserves of rare earth: "This is definitely do-control, not the front-end regulation, post more passive in the international court, you can not completely restrict exports, mining restrictions can only say that from the front. "

However, under the jurisdiction of the Ministry of Land which a mother is difficult in many provinces. "Land and Natural Resources has been to limit the total amount of rare earth mining, but also large scale stealing some places strict supervision, supervision loose in some places." He said, a coastal province in mining index was over 2000 tons a year, but the yield tons, "It's lax oversight."

He also said: "total control not to card production, mainly for new capacity limit capacity expansion, new capacity to set a high threshold for the original problem are more barriers to entry is low..."

He said that to strengthen the important mineral resources such as rare earths and tungsten ore total control, ready to establish protection and reserve base. Currently, the Ministry of Finance to establish regular communication with the mineral reserve issues.

Iron ore resource tax reform to wait

RE resource tax reform is certainly imminent. Tungsten and molybdenum are also listed on the agenda. These can understand, where international lawsuit arrayed it, so many pairs of eyes staring at the international, must be tight with these kind of come.

As a result, quite strong domestic iron ore resource tax reform, it seems to wait up.

Domestic iron ore why to wait in line? Since the introduction of the product every resource tax reform must involve the central and local, on the downstream business, to have a statistical approach.

Resources from the amount of tax levied to ad valorem, first make compensation fee and resources tax merger, the combined central and local governments into how computing is a big problem, and there are tax standards.

Since December 1, 2014, the coal resources to implement ad valorem tax reforms in the country, mixed. So, just do a try coal, tungsten, molybdenum has a column on the agenda, iron ore resource tax reform is estimated to be, and so on up.

In addition, industry analysts had on the "Daily Economic News" reporter said that even tax cuts apply mode coal iron ore industry, the compensation fee rate to zero, stopped levying mining environmental management to restore the margin, price adjustment fund and other expenses with respect to the various taxes and nearly ten, the tax cuts is very limited.

Tons of imported iron ore price from $ 13.45 billion at the beginning of 2014 plunged 52.6 percent to $ 62.2 February 11, so that the domestic mining resource tax costs of a sudden from the previous total of 1/8 price rose 1/20 more.

Iron ore resource tax has not been changed by the amount levied ad valorem. Calculated by ore, one ton of ore resource tax is 15 yuan, one ton of iron ore resource tax would have 50 to 60 yuan.


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