Tungsten and molybdenum rare earth resources tax reform has clearly specific issues

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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