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Resource Tax to Be Executed on July 1
Published:2016/9/23 Views:5972
Resource tax reform is to be executed from July 1. On the whole it does not increase the burden on enterprises, but does not rule out the increase in some corporates.
Tax Secretary of the Ministry of Finance, Wang Jianfan said that this resource tax reform takes into account the actual situation of company and affordability, determines reasonably the resource tax basis and tax rate level, and enhances tax flexibility, in accordance with the principle of tax reform before and after the shift, not to increase the overall tax burden, but can not guarantee that each enterprise tax burden does not increase.
Wang Jianfan said that the water resources fee to tax, for example, for high water consumption industry, over-planned water and the use of groundwater in the groundwater overdrafted areas, it will be appropriate to raise tax standards, to increase the collection, which also reflects the tax of the regulatory role. One of the important purposes of the reform is to "clear the tax", including that the full resources of mineral resources compensation rates to zero, stopping the price adjustment fund, mineral resources compensation fees and other fees and charges into the appropriate resource tax, the abolition of illegal funds, to further rationalize the relationship between taxes and fees, which will help reduce the burden on enterprises.

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