Jilin authorities seek public opinions on resource tax proposal
2020-05-26 17:50:26 [Print]
The Department of Finance of Jilin Province announced on May 21 that it has drafted, together with Jilin Provincial Tax Service of State Taxation Administration, and the Department of Natural Resources of Jilin Province, a proposal on the implementation of applicable tax rate and tax reduction plan for different resources in Jilin. Jilin authorities are seeking public opinions on the proposal.
The proposal is drafted based on the Resource Tax Law of the People's Republic of China and the actual situation in the province.
It suggests that companies which, in the course of mining or producing taxable products, suffer heavy losses due to accidents or natural disasters shall be exempted from resource tax; for companies that produce paragenic ore and associated ore, the sales of which are accounted for separately from main ore product, the resource tax shall be levied at 50% of the tax payable on paragenic ore and associated ore; companies that mined low-grade ore should be exempted from resource tax; companies that mine tailings should be exempted from resource tax.
In addition, tax authority should establish cooperation mechanisms with other departments such as natural resources department and water resources department.
The proposal is expected to come into force from September 1, 2020.
The proposal is drafted based on the Resource Tax Law of the People's Republic of China and the actual situation in the province.
It suggests that companies which, in the course of mining or producing taxable products, suffer heavy losses due to accidents or natural disasters shall be exempted from resource tax; for companies that produce paragenic ore and associated ore, the sales of which are accounted for separately from main ore product, the resource tax shall be levied at 50% of the tax payable on paragenic ore and associated ore; companies that mined low-grade ore should be exempted from resource tax; companies that mine tailings should be exempted from resource tax.
In addition, tax authority should establish cooperation mechanisms with other departments such as natural resources department and water resources department.
The proposal is expected to come into force from September 1, 2020.
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