In order to strengthen the resources management, promote the economical and intensive utilization of resources and protect the ecological environment. According to 《Resource tax law of the people's Republic of China》,In light of the actual situation of Shandong Province, the 20th meeting of the Standing Committee of the 13th people's Congress of Shandong Pro-vince made the following decisions on the specific applicable tax rate, collection method and exemption or reduction measure of resource tax:
· The specific applicable tax rate and collection method of resource tax shall be implemented in accordance with the 《resource tax law of the people's Republic of China 》and the 《resource tax items and tax rate table of Shandong Province》attached to this decision.
· In the process of mining or producing taxable products, if a taxpayer suffers heavy losses due to accidents or natural disasters, with the approval of the people's Government of Shandong Province, the resource tax may be reduced by 20% of the actual loss amount, but the maximum amount of tax reduction shall not exceed the resource tax payable in the year when the taxpayer suffers heavy losses.
· If a taxpayer exploits the taxable products associated with bromine or bromine as a co associated taxable product, res-ource tax shall be levied separately. For mining other co associated taxable products, if the sales amount or sales volu-me of the main mineral products are separately accounted for, the resources tax on the co associated taxable products shall be exempted; if there is no separate accounting, the resources tax shall be levied on the co associated taxable pr-oducts according to the tax items and applicable tax rates of the main mineral products.
· The taxable products mined by taxpayers from low-grade ores shall not be exempted from or reduced from resource tax.
· For taxable products mined from tailings, the resource tax shall be reduced by 50%.
· This decision shall come into force as of September 1,2020.
Table of tax items and tax rates of Shandong Province
OCEANCHEM GROUP LIMITED
