coal resource tax.

on December 1st, 214, China started the nationwide reform of ad valorem taxation of coal resource tax, and China began to implement ad valorem taxation of coal resource tax.

Legal basis: Notice of the Ministry of Finance and State Taxation Administration of The People's Republic of China on Implementing Coal Resource Tax Reform, with the approval of the State Council, implemented nationwide ad valorem reform of coal resource tax since December 1, 214, and cleaned up related fee funds in order to promote resource conservation and intensive utilization and environmental protection, promote the transformation of economic development mode and standardize the resource tax system. Matters related to the reform of coal resource tax are hereby notified as follows:

About the method of taxation. The coal resource tax is levied at an ad valorem rate. Taxable coal products (hereinafter referred to as taxable coal) include raw coal and washed coal processed with untaxed raw coal (hereinafter referred to as washed coal). The calculation formula of tax payable is as follows: tax payable = taxable coal sales × applicable tax rate.