SMM9 March 1: this resource tax legislation adheres to the current tax framework and the overall level of tax burden remains unchanged, on the whole, the burden does not change much. However, in order to give full play to the role of resource tax in promoting resource conservation, the vast majority of resource products are taxed ad valorem, and the specific tax rate is determined by each province within a certain range, so the change of the tax burden of specific enterprises is more complex, increasing and decreasing. According to the State Administration of Taxation:
1. Where taxpayers sell raw ore by mixing purchased raw ore with self-produced raw ore, or by mixing purchased mineral processing products with self-produced mineral processing products as mineral processing products, when calculating the sales or sales quantity of taxable products, directly deduct the purchased amount or quantity of purchased raw ore or purchased mineral processing products.
Where a taxpayer sells mineral processing products by the mixed washing processing of purchased raw ore and self-mined raw ore, the deduction shall be made in accordance with the following methods when calculating the sales or sales quantity of taxable products:
The amount of purchased taxable products allowed to be deducted (quantity) = the purchased amount of raw ore (quantity) × (applicable tax rate for raw ore in this area / applicable tax rate for mineral processing products in this area)
If the deduction cannot be calculated in accordance with the above-mentioned method, the deduction shall be carried out in accordance with other reasonable methods determined by the competent tax authority.
2. When declaring resources tax, taxpayers shall fill in the Resource tax return.
3. Taxpayers shall enjoy the preferential policy of resource tax and adopt the method of "self-discrimination, declaration and enjoyment, and retention of relevant materials for reference", unless otherwise stipulated. Taxpayers shall be legally responsible for the authenticity and legality of the materials retained in the preferential matters of resource tax.
IV. This announcement shall enter into force as of September 1, 2020.
Announcement of the State Administration of Taxation on several issues concerning the Collection and Management of Resource tax
According to SMM, the detailed rules for the implementation of the interim regulations of the people's Republic of China on Resource tax, which came into effect on November 1, 2011, adopts ad valorem levy on copper ore, while the latest resource tax law adopts ad valorem levy on copper ore.
Detailed list of tax items and rates of resources tax implemented on November 1, 2011
Current resource tax rate
You might as well make a brief calculation. Based on 0.8% of the copper content in the original copper ore, the copper mine should be levied a resource tax of 1 / 0.8% 66,750 yuan / metal ton according to the original interim regulations; according to the new resources law, a resource tax of 5300002% "88.5%" 938.1 yuan / metal ton will fluctuate with the copper price, but on the whole, the resource tax will be higher than before.
In addition, SMM believes that the reform of resource tax collection will also have the following effects:
1. The production cost of polymetallic mines is expected to increase. The original ad valorem levy only needs to levy resource tax according to the original ore weight, which in disguise saves the cost of by-product metals in polymetallic minerals, but after the ad valorem levy, different metal minerals are required to pay resource tax, so this part of the cost will be increased.
two。 Part of the cost of the enterprise that only produces the raw ore for sale will be reduced, and when the resource tax is levied according to the original volume, the original mine production enterprise will have to bear the resource tax, while after the ad valorem levy, the resource tax of the mineral processing value-added part will be borne by the mineral processing enterprise.
Although the cost of copper production enterprises has increased to a certain extent after the implementation of the new resources tax, considering that the current high copper price is beneficial to mining enterprises, and the pricing coefficient of domestic copper concentrate is already high due to tight supply this year, it is expected that the implementation of the new resource tax law will have little impact on the trading end coefficient of domestic copper concentrate.
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