Coal or non-adducted ad valorem

Resource tax reform is expected to spread throughout the country during the year

Experts predict that coal will still not be included in the ad valorem scope

Authorities of related departments recently revealed to the "Economic Information Daily" that it is very likely that the country will implement resource tax reforms throughout the year. Experts also support this kind of pre-judgment. It is believed that there are no technical difficulties in the development of the resource tax reform after the trial in Xinjiang. However, coal may not be included in the ad valorem assessment.

The Ministry of Finance and the State Administration of Taxation jointly promulgated the "Provisions on Several Issues Concerning the Reform of Xinjiang's Crude Natural Gas Resource Taxes" on June 1 this year. Crude oil and natural gas resource taxes are subject to ad valorem pricing and the tax rate is 5%. Ding Wei, executive director of the Tax Research Institute of Capital University of Economics and Trade, stated that the resource tax reform that is conducive to promoting the effective use of resources, avoiding waste, and strengthening resource protection is of great significance for achieving sustainable economic and social development.

Experts believe that, in the case that Xinjiang has already taken the lead in reforming the water resources tax, it is entirely possible to introduce a resource tax nationwide during the year. “Technically, this is not difficult.”

"The resource tax reform in Xinjiang has accumulated experience for the next step in the country's opening up. There is no doubt that it will be conducive to the smooth implementation of the nationwide implementation," said a tax expert who recently participated in the seminar of the Ministry of Finance. Moreover, "Resource tax reform should have been conducted in a unified country," said Yang Zhiyong, a researcher at the Institute of Finance and Trade of the Chinese Academy of Social Sciences and director of the Financial Research Office, in an interview with the Economic Information Daily.

Not only that, the local government is willing to actively promote it. It is also an important factor in implementing the resource tax nationwide. It is widely believed that the resource tax reform is a measure to improve local financial resources by raising resource tax revenues within the framework of established inter-governmental fiscal relations. Taking Xinjiang as an example, studies have shown that after the trial reform of resource taxes, the scale of resource tax revenue in Xinjiang will increase significantly.

According to relevant statistics, Xinjiang produced 25.18 million tons of crude oil and 25.4 billion cubic meters of natural gas in 2009. If the international crude oil price is used as a benchmark, assuming a price of US$70 per barrel, approximately 1 barrel of crude oil equivalent to 7 barrels, the tax rate is calculated at 5%, and the exchange rate is calculated at US$1=6.8 yuan, then 25.18 million tons of crude oil can The resource tax of about 4.195 billion yuan is provided, and the resource tax revenue collected from 30 yuan per ton is only 755 million yuan. 24.5 billion cubic meters of natural gas, if calculated according to the ex-factory price before the adjustment on June 1 this year, that is, 925 yuan per 1,000 cubic meters, and the resource tax rate shall be calculated at 5%, then the resource tax revenue shall be 1.133 billion yuan* **. If calculated according to the resource tax of 15 yuan per 1,000 cubic meters, the corresponding resource tax revenue is only 367.5 million yuan.

It is noteworthy that the Xinjiang reform program previously announced did not involve coal as an important resource. Then, will the timing of the implementation of resource tax reforms throughout the country include coal as an ad valorem? Most experts agree that it is not yet possible to impose ad valorem pricing on coal at this time. “Even if the country implements reform of the resource tax, the initial implementation of ad valorem may be only crude oil and natural gas, and other tax items are likely to be assessed on a case-by-case basis,” said the expert.

It is generally believed that the resource tax reform is a change in the method of taxation from the point of view of form, but in essence, the essence of reform is to increase the tax burden on resource taxes. As a result, once the resource tax reform is rolled out across the country, the price trend of crude oil and natural gas will receive much attention. Yang Zhiyong believes that from the perspective of Xinjiang, the tax reform has only increased the burden on oil and gas companies, but monopolistic enterprises cannot afford to bear the increased tax burden indefinitely. “When they cannot afford it, it is inevitable that the relevant departments will increase prices. In other words, tax reform means a potential increase in prices."