Resource Tax Law 2019

On August 29, the Resource Tax Law was passed and will be implemented on September 1, 2020. The current Provisional Regulations on resource tax will be repealed. The Resource Tax Law maintains the direction of the current tax system and the overall level of tax burden unchanged. The tax items have been standardized, and all taxable resources and products have been listed in the tax law. There are 164 tax items, covering all minerals that have been found and also salt. The water resources tax will be levied on a pilot basis. The authority to determine specific tax rates hasRead More →

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