On May 10, the Ministry of Finance issued a notice on comprehensively promoting resource tax reform. The circular requires that the resource tax relationship should be straightened out by comprehensively implementing the reform of clearing fees and establishing taxes, and a standardized, fair, reasonable and efficient resource tax system should be established to effectively play its role in organizing income, regulating the economy, promoting resource conservation and intensive utilization and protecting the ecological environment. The notice pointed out that the reform of resource tax ad valorem and the pilot reform of water resource tax have been implemented since July 1 day, 2065438.

Notice on comprehensively promoting resource tax reform

Caishui [2016] No.53

-Incorporate mineral resources compensation fees and other fees into the resource tax as appropriate.

-While implementing the reform of ad valorem collection of resource tax, the compensation fees for mineral resources of all resource projects will be reduced to zero, the price adjustment fund will be suspended, and various fee-based fund projects established by local governments in violation of the regulations on mineral resources management will be banned.

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