Ministry of Finance: Tax Cut 30% for Mineral Products in Exhaustion Stage

Industry News 01:32PM Nov 21, 2017 Source:SMM

SHANGHAI, Nov.21 (SMM)-As per exposure draft officially released, in order to support deep-sea oil-gas prospect and development, oil-gas prospected from deep-sea shall be reduced resources tax by 30%. Considering mines in exhaustion stage needs more cost to explore, those mineral products mined from those mines in exhaustion stage shall be reduced resources tax by 30% affirmed by Ministry of Land and Resources.


The article is edited by SMM and is provided for information purpose only. It does not mean SMM agrees with its views and SMM assumes no liability for accuracy of information contained or quoted in the article.

Key Words:  tax   resource   mines 

Ministry of Finance: Tax Cut 30% for Mineral Products in Exhaustion Stage

Industry News 01:32PM Nov 21, 2017 Source:SMM

SHANGHAI, Nov.21 (SMM)-As per exposure draft officially released, in order to support deep-sea oil-gas prospect and development, oil-gas prospected from deep-sea shall be reduced resources tax by 30%. Considering mines in exhaustion stage needs more cost to explore, those mineral products mined from those mines in exhaustion stage shall be reduced resources tax by 30% affirmed by Ministry of Land and Resources.


The article is edited by SMM and is provided for information purpose only. It does not mean SMM agrees with its views and SMM assumes no liability for accuracy of information contained or quoted in the article.

Key Words:  tax   resource   mines