Shandong propels taxes and fees reform for coal resources

　　It is known from Shandong Province Finance Bureau that Shandong has been carrying forward taxes and fees reform for coal resources with steady steps. From December 1st, the rate of mineral resources compensation fees for coal, crude oil and natural gas is going to be reduced to zero, the collecting of price regulation fund for coal, crude oil and natural gas will be ceased. In addition, the collecting mode for coal resources in Shandong is to adopt ad valorem collection instead of the current quantity-based collection, the tax rate range from 2% to 10%.

　　Approved by the State Council, ad valorem collection reform for coal resources is going to be implemented nationwide since December 1st, 2014. Recently, Shandong Province Finance Bureau and Shandong Local Taxation Bureau jointly held The Province's Working Conference on Taxes and Fees Reform for Coal Resources, to propel taxes and fees reform for coal resources in Shandong with steady steps.