Rare earth tungsten and molybdenum resources tax ad valorem implementation of this month

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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