Rare earth resource tax levied

The local taxation bureau said that the reform of ad hoc resource tax reform is brewing trials, and Ganzhou, Panzhihua and other places in Jiangxi have begun preparations. According to the analysis, the increased tax burden at the initial stage of the reform needs to be borne by the company and will be passed on to the end consumers in the long run.

Some local governments have embarked on preparations for conducting ad valorem resource taxation pilots. The Ministry of Finance and the State Administration of Taxation also explicitly put forward an ad valorem levy on the resource tax of rare earths at a seminar with the local financial department.

Jiangxi Provincial Taxation Department proposed to pilot the reform of the rare earth resource tax in Zhangzhou, and the Panzhihua Finance Bureau also conducted discussions on the reform of ad valorem resource tax reform of the rare earth resources and the Financial Science Research Institute of the Ministry of Finance.

At present, the rare earth resource tax is measured in terms of quantity, and the collection standard is low. Lin Boqiang (microblogging), director of the China Energy and Economic Research Center at Xiamen University, believes that pilot projects for the reform of ad valorem pricing for rare earth resources will be piloted in two to three regions, and then further consider the direction of reform.

Lin Boqiang said that after the change from ad valorem, short-term rare earth mining companies themselves should bear the increased tax burden. In the long run, the cost will be passed on to the terminal by the enterprise.