The coal resource tax rate may be raised to 3%-5%. Experts say that the reform conditions are in place.
2024-08-03 07:02:02
After a series of policy signals for reforming resource taxes are frequently released, whether or not coal will be included in the resource tax reform vision will become the focus of attention. According to sources, the reform plan is likely to set the tax rate for coal taxes between 3% and 5%. Some large coal companies are now actively preparing for resource tax reform.
Experts interviewed by the Economic Information Daily believe that it is an inevitable trend to include coal in the scope of ad valorem taxation and raise the level of tax burden. The conditions for the reform to be rolled out in a wider scope are basically in place.
The "Proposal of the Central Committee of the Communist Party of China on Formulating the Twelfth Five-Year Plan for National Economic and Social Development" promulgated on October 27th proposes to continue to promote the reform of fees and taxes, comprehensively reform the resource tax, and deepen the reform of resource products and factor markets. The price relationship of resources such as coal, electricity, oil, gas, water and minerals. Subsequently, Xishan Coal and Electricity Group, Shenhua Group and other enterprises have intensified their expectations of including coal in the scope of resource tax reform. Relevant management personnel said that enterprises are actively preparing for resource tax reform.
In fact, the resource tax reform has taken a step forward. On June 1, 2010, the Ministry of Finance and the State Administration of Taxation issued the “Regulations on Several Issues Concerning the Reform of Xinjiang Crude Oil Natural Gas Resource Taxâ€. The crude oil and natural gas resource taxes are subject to ad valorem, and the tax rate is 5. %, the taxable amount is calculated as: tax payable = sales x tax rate.
It is worth noting that this reform program does not include coal. To this end, some experts speculate that, in order to avoid increasing inflationary pressures and other reasons, even if the national resource tax reform is pushed forward, it is unlikely that the coal will be subject to ad valorem.
However, the conference on the development of the western region held in Beijing in early July pointed out that in order to further promote the development of the western region, it is necessary to conscientiously implement the various policies and measures formulated by the central government, and change the tax on resources such as coal, crude oil and natural gas from quantity to quantity. Price collection.
This statement, together with the "comprehensive reform of the resource tax" proposed by the recent "Recommendations", has tightened the nerves of the public coal enterprises. "We have even prepared for the introduction of reform measures during the year." A senior member of Xishan Coal and Electricity Group The management told the Economic Information Daily that the team led by it has calculated and evaluated the latest financial data of the company, and fully prepared and estimated the impact and countermeasures that coal will be included in the resource tax reform next year.
The current collection method of China's coal resource tax is still based on the amount of taxation. In addition to the coking coal resource tax amount of 8 yuan / ton, the tax rate of other coal species in each region is about 3 yuan / ton. A researcher from the China Coal Industry Association revealed that the current resource tax collection of coal enterprises above designated size actually accounts for 1% of sales revenue. The resource tax reform plan has initially determined that the resource tax rate will be increased from the actual sales income of 1% to 3. %-5%, and stipulate that local governments can determine the specific tax rate in combination with the actual situation.
The above-mentioned senior management of Xishan Coal and Electricity Group has roughly calculated an account. Taking coking coal as an example, according to the 5% tax rate, the tax burden after ad valorem levy may be 5-7 times of the original tax levy. He said, "At the current level of profitability, companies are fully capable of digesting," but "will definitely be properly passed on."
A management of Shenhua Group recently revealed to the Economic Information Daily that it has been paying close attention to various statements made by the decision-making level on resource tax reform, and has tried to obtain more detailed reform plan through various channels. The manager said that once the reform plan was introduced to include coal and was levied at a rate of 3%-5%, “the impact on the company is still quite large, especially the cost.â€
An industry insider said that if the increased portion of the tax burden can be transferred, the company will not sacrifice its own profit margin, so the coal price will increase accordingly. The person also believes that due to the quality of coal, technical level and other factors, the weaker coal enterprises will be relatively poorly transferred, so the tax reform may also mean the trend of industry integration.
Chen Yan, deputy dean of the Beijing Institute of Finance and Taxation, believes that it is an inevitable trend of resource tax reform to include coal and even more tax items in the scope of ad valorem taxation and correspondingly increase the tax burden. “At present, Xinjiang has been reformed first, so it is even more The pace of implementing the resource tax reform in a wide range will inevitably accelerate. In addition, there are no technical obstacles. It is not possible to exclude the possibility of introduction at the end of this year. Now we only wait for the relevant departments to officially release it," said the researcher.
Experts interviewed by the Economic Information Daily believe that it is an inevitable trend to include coal in the scope of ad valorem taxation and raise the level of tax burden. The conditions for the reform to be rolled out in a wider scope are basically in place.
The "Proposal of the Central Committee of the Communist Party of China on Formulating the Twelfth Five-Year Plan for National Economic and Social Development" promulgated on October 27th proposes to continue to promote the reform of fees and taxes, comprehensively reform the resource tax, and deepen the reform of resource products and factor markets. The price relationship of resources such as coal, electricity, oil, gas, water and minerals. Subsequently, Xishan Coal and Electricity Group, Shenhua Group and other enterprises have intensified their expectations of including coal in the scope of resource tax reform. Relevant management personnel said that enterprises are actively preparing for resource tax reform.
In fact, the resource tax reform has taken a step forward. On June 1, 2010, the Ministry of Finance and the State Administration of Taxation issued the “Regulations on Several Issues Concerning the Reform of Xinjiang Crude Oil Natural Gas Resource Taxâ€. The crude oil and natural gas resource taxes are subject to ad valorem, and the tax rate is 5. %, the taxable amount is calculated as: tax payable = sales x tax rate.
It is worth noting that this reform program does not include coal. To this end, some experts speculate that, in order to avoid increasing inflationary pressures and other reasons, even if the national resource tax reform is pushed forward, it is unlikely that the coal will be subject to ad valorem.
However, the conference on the development of the western region held in Beijing in early July pointed out that in order to further promote the development of the western region, it is necessary to conscientiously implement the various policies and measures formulated by the central government, and change the tax on resources such as coal, crude oil and natural gas from quantity to quantity. Price collection.
This statement, together with the "comprehensive reform of the resource tax" proposed by the recent "Recommendations", has tightened the nerves of the public coal enterprises. "We have even prepared for the introduction of reform measures during the year." A senior member of Xishan Coal and Electricity Group The management told the Economic Information Daily that the team led by it has calculated and evaluated the latest financial data of the company, and fully prepared and estimated the impact and countermeasures that coal will be included in the resource tax reform next year.
The current collection method of China's coal resource tax is still based on the amount of taxation. In addition to the coking coal resource tax amount of 8 yuan / ton, the tax rate of other coal species in each region is about 3 yuan / ton. A researcher from the China Coal Industry Association revealed that the current resource tax collection of coal enterprises above designated size actually accounts for 1% of sales revenue. The resource tax reform plan has initially determined that the resource tax rate will be increased from the actual sales income of 1% to 3. %-5%, and stipulate that local governments can determine the specific tax rate in combination with the actual situation.
The above-mentioned senior management of Xishan Coal and Electricity Group has roughly calculated an account. Taking coking coal as an example, according to the 5% tax rate, the tax burden after ad valorem levy may be 5-7 times of the original tax levy. He said, "At the current level of profitability, companies are fully capable of digesting," but "will definitely be properly passed on."
A management of Shenhua Group recently revealed to the Economic Information Daily that it has been paying close attention to various statements made by the decision-making level on resource tax reform, and has tried to obtain more detailed reform plan through various channels. The manager said that once the reform plan was introduced to include coal and was levied at a rate of 3%-5%, “the impact on the company is still quite large, especially the cost.â€
An industry insider said that if the increased portion of the tax burden can be transferred, the company will not sacrifice its own profit margin, so the coal price will increase accordingly. The person also believes that due to the quality of coal, technical level and other factors, the weaker coal enterprises will be relatively poorly transferred, so the tax reform may also mean the trend of industry integration.
Chen Yan, deputy dean of the Beijing Institute of Finance and Taxation, believes that it is an inevitable trend of resource tax reform to include coal and even more tax items in the scope of ad valorem taxation and correspondingly increase the tax burden. “At present, Xinjiang has been reformed first, so it is even more The pace of implementing the resource tax reform in a wide range will inevitably accelerate. In addition, there are no technical obstacles. It is not possible to exclude the possibility of introduction at the end of this year. Now we only wait for the relevant departments to officially release it," said the researcher.
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