China refines collection of mining rights transfer revenues
2026-06-29 15:06:01 [Print]
China's Ministry of Finance, the Ministry of Natural Resources, and the State Taxation Administration jointly issued a notice on further refining the collection of mining rights transfer revenues.
Under the new notice, for mineral categories not covered by the Catalogue of Mineral Categories Subject to Mining Rights Transfer Revenue Collection on a Yield Basis (Trial) (hereinafter referred to as the Catalogue), which is appended to the Measures for the Collection of Mining Rights Transfer Revenues (Cai Zong [2023] No. 10), the starting price shall be determined as the higher of the assessed value or the benchmark market price calculation.
For mineral categories listed in the Catalogue, the starting price will continue to follow existing regulations.
In cases of agreement-based transfer of mining rights for minerals included in the Catalogue, where the transfer involves state-funded exploration--including previously commercially funded exploration projects whose mining rights have since lapsed, which are now treated as state-funded--and where non-oil/gas minerals have completed general prospecting or oil/gas minerals have completed trap pre-prospecting, the transaction price shall be set based on the mining rights assessed value. This assessed value shall not include the mining rights transfer revenue that is otherwise collected on a yield basis. For other agreement-based transfers, the transaction price shall be determined in accordance with current regulations.
Under the new notice, for mineral categories not covered by the Catalogue of Mineral Categories Subject to Mining Rights Transfer Revenue Collection on a Yield Basis (Trial) (hereinafter referred to as the Catalogue), which is appended to the Measures for the Collection of Mining Rights Transfer Revenues (Cai Zong [2023] No. 10), the starting price shall be determined as the higher of the assessed value or the benchmark market price calculation.
For mineral categories listed in the Catalogue, the starting price will continue to follow existing regulations.
In cases of agreement-based transfer of mining rights for minerals included in the Catalogue, where the transfer involves state-funded exploration--including previously commercially funded exploration projects whose mining rights have since lapsed, which are now treated as state-funded--and where non-oil/gas minerals have completed general prospecting or oil/gas minerals have completed trap pre-prospecting, the transaction price shall be set based on the mining rights assessed value. This assessed value shall not include the mining rights transfer revenue that is otherwise collected on a yield basis. For other agreement-based transfers, the transaction price shall be determined in accordance with current regulations.
