Xinjiang Crude Oil Natural Gas Tax Increased By Nearly Seven Times.

The reform plan of Xinjiang crude oil and natural gas resources tax was introduced separately.

Yesterday, the Ministry of Finance and the State Administration of Taxation jointly issued a document that stipulates the exploitation of crude oil and natural gas in Xinjiang, and the tax on resource tax is charged, with a tax rate of 5%.

Accordingly, if the domestic crude oil price is calculated at 4000 yuan per ton, at the rate of 5%, the crude oil resource tax will be 200 yuan per ton.

According to the current resource tax rate, the crude oil resource tax in Xinjiang area is 30 yuan / ton, and the natural gas resource tax is 9 yuan per thousand cubic meters.

In May 31st, the national development and Reform Commission decided to raise the benchmark price of domestic land natural gas.

After raising prices, the natural gas supply in Xinjiang's oil fields is about 1200 yuan per thousand cubic meters, and the standard price for supplying chemical fertilizer and non industrial cities is 79 billion yuan per thousand cubic meters.

After the reform, the corresponding amount of Xinjiang natural gas resources tax will be raised to 60 yuan or 39.5 yuan per thousand cubic meters.

In June 2nd, the Ministry of Finance published the "Regulations on the reform of crude oil natural gas resources tax in Xinjiang" (hereinafter referred to as the Xinjiang resource tax reform provisions), so as to implement the May 19th central Xinjiang work forum on the first reform in Xinjiang.

The Ministry of Finance and Taxation issued special rules and regulations, without revising the current "resource tax regulations", to first reform the regulations on the collection of resources tax for crude oil and natural gas in Xinjiang.

According to the central government's plan, resource tax reform includes three aspects: expanding the scope of resource tax collection, changing the basis of resource tax assessment, and raising the tax burden of resources tax.

According to the regulations on resource tax reform in Xinjiang, the crude oil and natural gas produced by taxpayers will not be paid for the resource tax for their continuous production of crude oil or natural gas.

According to the resource tax reform of Xinjiang, three kinds of circumstances can be exempted from or reduced to resource tax.

This includes the exemption of crude oil and natural gas used for heavy oil pportation in the field of oil fields. Heavy oil, high pour point oil and high sulfur natural gas are reduced by 40%, and the three production is reduced by 30%.

Xinjiang's resource tax reform requires that the time, place of tax payment, tax payment period and collection management of resources tax be carried out in accordance with the existing Provisional Regulations on resource tax and its implementation rules.

The new regulations on resource tax reform in Xinjiang have been implemented since June 1, 2010.

In May 27th, the State Council approved the development and Reform Commission's "opinions on deepening the reform of the economic system in 2010" and put forward the plan of "resource tax reform" in 2010.