State Council: decided to implement rare earth tungsten and molybdenum resource tax reform

Chinese Premier Li Keqiang April 28 chaired a State Council executive meeting, the deployment of policies to improve the import and export of consumer goods, abundant domestic consumer shopping choices; OK accelerate oil products quality upgrading measures to promote air pollution control and technological upgrading of enterprises; decided to implement a rare earth tungsten and molybdenum resource tax reform, promoting rationalize resources tax relationship.

The meeting decided that 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. Establishment of Mineral Resource equity fund system.


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