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The latest announcement of the "Resources tax Law of the people's Republic of China" rare earth resources tax rate has changed

iconAug 27, 2019 19:47
Source:SMM

SMM8, 27th of the month:

The Resources tax Law of the people's Republic of China was adopted at the 12th meeting of the standing Committee of the 13th National people's Congress on August 26, 2019. This Law shall enter into force as of September 1, 2020. The interim regulations of the people's Republic of China on Resource tax promulgated by the State Council on December 25, 1993 shall be annulled at the same time. Of these, the newly announced tax on light rare earth resources is 7% to 12%, and that for medium and heavy rare earths is 20%. The original resource tax is 27% for medium and heavy rare earth ore, 11.5% for Baotou mine, 9.5% for Sichuan mine and 7.5% for Shandong mine.

 

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