Coal Resource Tax Rate will Likely be Set at 4-8% in Major Coal Producing Provinces

Date: 2015-08-19

According to CCTD (China Coal Transport Distribution Association), the coal resource tax rate will likely be set at 4-8% in major coal producing provinces.

More specifically, Shanxi may set its tax rate at 8%, Inner Mongolia may levy a 4% resource tax before the final decision is made, the southwestern province of Guizhou could choose 5%, and Shandong, Henan, and Heilongjiang are most likely to go for a 4% rate as well. So higher quality coal may actually see a larger tax than before. Meanwhile, on an iron ore conference, an unidentified official reportedly claimed that price-based resource tax will eventually be extended to iron ore as well, but before that happens, the government needs to merge the current iron ore resource tax with the resource compensation fees, and the central and local governments will also need to negotiate a split ratio for income from the new iron ore tax.

So the introduction of price-based iron ore resource tax doesn’t appear immediate.

Contact With Us
Join templatemonster at google+
Customized Research
Request Sample