Resource tax reform in Xinjiang ahead: oil and gas from the price of 5% levied

Resource tax reform in Xinjiang ahead: oil and gas from the price of 5% levied

Crude oil and natural gas taxes levied by the amount of change from the ad valorem levied, the amount levied in the non-ferrous metals continue to Oil Ministry who said earlier that financial assets, resources tax reform will bring about a substantial increase in business costs, the oil resource tax the cost would be about 6-fold increase. If the levy of 5% in the country, the company may pay tax over 30 billion yuan a year.

This week, the high-profile central work conference held in Beijing in Xinjiang, 3-day conference for the development of Xinjiang, set the tone for the coming years. It is learned, resources, determine the tax reform will take the lead in Xinjiang, the crude oil and natural gas taxes levied by the change from the amount of levied ad valorem.

Yesterday (May 20), the "Daily Economic News" reporter learned from the exclusive source Office, the central support for the development of measures in Xinjiang, involving people's livelihood and increase investment and infrastructure investment, tax relief and reform, the establishment of the HKSAR, and other development side. Among them, the oil tax would be in accordance with the uniform rate of 5% levied ad valorem; natural gas will be 5% of the proportion of the oil taken from the price calculated at the same mode. Including nickel, aluminum, uranium, copper and nonferrous metals, including the amount levied will continue to take the model from the collection.

Lin Boqiang famous energy expert yesterday told the "Daily Economic News" reporter, resources tax reform is likely to choosing the 12 pilot cities.

It is understood that the coal resources related to the views of tax reform has not been approved.

Levied from the amount of behind the market

Long-term economic east-west Xinjiang Institute of Economic Research President Richard Turnbull, a long description, Xinjiang is China's important production base of petrochemical base and energy.

Information also shows that the Xinjiang region in 2008 produced 27 million tons of crude oil, natural gas production of 230 billion cubic meters, is currently China's largest oil and gas producing areas.

Previously, Xinjiang has been under financial measurement standards to impose oil tax. Press inquiries found that, over the years, the oil tax collection standard from the 12 to 24 yuan per ton slowly improve, but far behind the pace of international oil prices. With the growing domestic refined oil pricing mechanism with international standards, the gap is more evident.

Turnbull, also a long time that the output of the past by way of taxes levied, had not suited to the growing international practice of China's energy market. Various international commodity prices doubled over a decade dozens of fan, as energy-rich region, Xinjiang is still mainly rely on local finance central government transfer payment solution.

To this end, Tang had also designed a stand for a long time to Xinjiang, including oil, natural gas, such as the right allocation of oil and gas exploitation in Xinjiang, including revenue compensation mechanism, and suggested that the central enterprises in Xinjiang branch adjusted by the subsidiary, to achieve local pay in Xinjiang taxes.

Experts: 5% of the standard was not high

"5% is not high", Xinjiang Uygur Autonomous Region Government Research and Development Center Director Zhao Deru said that western countries usually charge 16% to 17% of the oil tax.

Former director of Xinjiang Uygur Autonomous Region Party Committee Party Committee, CPPCC members also believe that soup one irrigation, 5% of the standard is not high. He also said that the implementation of the headquarters of central enterprises the economic, PetroChina, Sinopec, based in Beijing, Xinjiang has not been much higher than the resources, the huge tax state and local tax. But we all know, corporate taxes is a "big."

The source also disclosed that the oil tax reform, will remain "Who mining, who sold, who will pay" principle.

It is reported that oil exploration in Xinjiang, mainly in two major companies PetroChina and Sinopec. Financial assets in the Petroleum Ministry said earlier that people, resources tax reform will bring about a substantial increase in business costs, the cost of petroleum resource tax will be about 6-fold increase. If the future rate of 5% of the oil resources at the national introduction of tax, of oil a year could more than 30 billion yuan turned over to the tax.

Just yesterday morning at the annual general meeting of China Petroleum, PetroChina, said general manager Jiang Jiemin on the hope that reform of resource tax levied on oil and the present combination of special benefits payments, and proceeds to take this opportunity to improve particular threshold.

Volatile international oil prices will create difficulties for the collection? Xinjiang's economic experts agree that the above does not.

It is understood that according to certain standards in a period of calculation of national oil prices, taking the average price of oil tax calculation method, will be released few days.

Local government will increase on 10 billion

Although in 2008 the Xinjiang oil and gas production fell slightly after the peak in both, but in 2009, Xinjiang remains a huge output.

The resources tax reform for, Zhao Deru calculations to reporters yesterday. He believes that local government will increase because of the oil resources of a 10.0 billion tax reform. If coupled with natural gas, it is a huge income.

Tom said one irrigation, in accordance with the international oil price 80 U.S. dollars per barrel, 560 U.S. dollars per ton basis, 5% tax equal to 30 U.S. dollars, or about 200 yuan.

The coal resources tax reform unsuccessful because the reporter was informed that poor transport is a major constraint. The source told reporters, just outside of Xinjiang Xinjiang coal within the spread on up to three times the Xinjiang region's infrastructure still time.

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