Summary October 9 the Ministry of Finance held a major coal-producing provinces in the financial sector briefing individual provinces, Shanxi, Shaanxi and other specific issues of the coal resource tax reform summoned to Beijing. A person from the relevant department of the Shaanxi Provincial Department of Finance said that for the range of 2%-10% tax rate that is widely predicted by the outside world, this...
On October 9, the Ministry of Finance held individual provincial briefings on specific issues of coal resource tax reform, and the financial departments of major coal-producing provinces such as Shanxi and Shaanxi were called to Beijing. A person from the relevant department of the Shaanxi Provincial Department of Finance said that for the widely-taxed range of 2%-10%, the meeting may study to further narrow the tax rate, and the final tax rate should be close to the middle. Text / China
On September 29, 2014, the State Council executive meeting proposed to implement the reform of the coal resource tax, promote the clearing of taxes, and reduce the burden on enterprises.
The meeting decided that on the basis of doing a good job of clearing fees, starting from December 1, 2014, the coal resource tax will be changed from the quantitative levy to the ad valorem in the country. The tax rate will be determined by the provincial government within the prescribed range. .
Following the reform of the oil and natural gas resource tax in October 2011, the coal resource tax reform was finally launched. A local finance official who participated in the above-mentioned Ministry of Finance's ventilation meeting said that the provinces reported their situation and problems to the Ministry of Finance, but did not form a plan. At present, the State Council has decided to implement the tax reform, but it still needs the Ministry of Finance and the State Administration of Taxation to issue a document. It may take a few days for news to come out.
Low coal price徘徊
The best time for reform
Lin Boqiang, director of the Energy Economic Research Center of Xiamen University, said that the coal resource tax ad valorem has been proposed as early as 2011. The reason why it was decided recently was because the previous industry boom was changed to ad valorem. The tax burden has risen sharply, and it is easier for coal companies to transfer pressure to downstream industries such as electricity and steel. At present, coal prices are at a low level, which is an ideal time to promote the reform of ad valorem.
At the beginning of 2014, Wang Jun, director of the State Administration of Taxation, also pointed out that because the current CPI and PPI are relatively low, coal is in the buyer's market, and the implementation of the ad valorem reform has less impact on the downstream industry. It is the best time to promote the resource tax reform. .
However, the heavy burden of taxes and fees has always been a hindrance to the reform of coal resource tax. According to statistics, there are currently 16 types of taxes in coal taxes in the country. Among the 31 administrative fees in the country, coal companies in different regions have charges.
According to estimates by the China Coal Association, the burden of various taxes on coal enterprises accounts for 21.03% of sales revenue, and the burden of various administrative fees accounts for 14.01%, which is 35.04%.
According to the report released by the China Coal Economic Research Institute of the Central University of Finance and Economics in 2013, “Accelerating the Comprehensive Reform of China’s Coal Tax and Fee Systemâ€, at present, there are no less than 109 taxes on coal involved in China, except for 21 taxes. There are no less than 88 items of various fees. Among them, the government's fees have accounted for 43% of the net profit of coal enterprises. Even if the current coal price is at a low level, it is likely that the company will still increase the corporate tax burden after the ad valorem.
According to the current "Provisional Regulations on Resource Taxes", coal resource taxes are levied on a volume basis, coking coal is 8-20 yuan per ton, and other coal is 0.3-5 yuan per ton. After the price is calculated, it is assumed that according to the current 5% tax rate of oil and gas resources and the current price of 482 yuan/ton of Qinhuangdao 5500 calorie coal, the resource tax of tons of coal will be raised to 24.1 yuan/ton, and the corporate tax burden will be significantly reduced. increase. It is worth noting that the State Council of Tax Reform has emphasized that it is necessary to clear the coal-related charging fund, and the overall burden of coal enterprises is not increased.
The above-mentioned person from the financial department of Shaanxi Province said that since the State Council has clarified the implementation time of the tax reform and the related working hours are urgent, the province has issued several policy documents to clear the coal-related charges. In June 2014, the Provincial Department of Finance and the Provincial Department of Industry and Information Technology jointly issued the "Notice on Further Regulating the Collection of Taxes and Fees for Coal Enterprises", which clarified a total of 10 coal-related fees and fund projects in Shaanxi Province, and stopped collecting 5 And announced the cancellation of 11 unreasonable and irregular charges.
In another major coal-producing province in Shanxi, on June 23, 2014, the provincial government proposed that through the two rounds of coal-related costs cleaned up this year and tomorrow, after all the reforms are in place, the reduction of tons of coal can reach 14.3 yuan, which can be reduced at least annually. The enterprise has a burden of 13.551 billion yuan.
Overcapacity
Industry is short-term optimism
In the current downturn in the coal market, will the provinces scramble to set lower tax rates and help local companies compete for the market? Is the resource tax for different coal types differentiated according to coking coal and other coals, or is it necessary to make a more detailed distinction between other coals? This person believes that this is the main coordination problem solved by the Ministry of Finance.
Lin Boqiang said that the tax rate may be levied according to coking coal and other coals, but it is unlikely to be divided more finely. If so, the actual collection process will become very troublesome. "The reform of the tax system is more from the perspective of rationalizing the fiscal and taxation system. The part of the tax reform will be returned to the enterprise through the method of clearing fees. In the short term, it will not have much impact on the coal market. In the long run, the tax burden will be Will change with the fluctuation of coal prices."
Wang Dongsheng, president of China Taxation Taxation Office, said that because coal is a non-renewable resource product, prices will rise in the long run, and the resource tax burden of resource mining enterprises will inevitably increase. The increase in tax burden may promote the price of resource products. However, whether it can rise up depends on the market supply and demand situation.
For the current market in the coal market, Lin Boqiang is not optimistic. "The main reason is that the demand is not prosperous. From the current data on power generation, it can be seen that coal for power generation accounts for about 50% of the total coal used in China." He believes that the coal industry responds to this situation mainly in two ways. Promote mergers and acquisitions to increase industry concentration, followed by controlling production capacity.
In the face of the sluggish coal market, various looming "saving the city" policies have been quietly introduced. The China Coal Association recently organized 14 major leaders of large-scale coal enterprises to strive to reduce coal production this year by more than 10%, and will strive to limit imports of inferior coal.
In accordance with the deployment of the resource tax reform, the future will continue to expand from the price to the metal ore, non-metallic ore, and water resources. Wang Dongsheng said that from the perspective of the types of resources selected by the resource tax reform, whether it is oil, natural gas or coal, it is a commodity, which has a large impact on the economy and a large price fluctuation. According to these characteristics, the next step in the reform is likely Iron ore.
The XUNDA-T-100 series is Cold applied tape coating system for corrosion protection of Oil, Gas, Petrochemical, and Waste Water underground or overhead pipelines.
The inner-layer tape shall be applied after the Liquid adhesive and before the outer-layer tape by hand or with a wrapping machine
2 Structure:
The specification of the tape consists of two layers, adhesive layer and film backing
Adhesive: butyl rubber
Film backing: Special blend of stabilized polyethylene
3 Features:
Excellent adhesion to pipe and self
Can be applied over a wide temperature range
Good conformability and consistent uniform thickness
Easily applied with no special equipment
Compatible with common pipe coatings
Excellent resistance to cathodic disbonding
Meets ASTM D 1000 Standard
Cold applied
Anti Corrosion Tape, Inner Wrap Tape, Black Inner Tape, Polyethylene Inner Tape
Jining Xunda Pipe Coating Materials Co.,Ltd , http://www.pipe-wrap.com