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Ongoing Resource Tax reforms significantly expanded
Ongoing Resource Tax reforms significantly expanded
China Tax Alert - Issue 18, July 2016
On 9 May 2016, the Ministry of Finance (MOF) and the State Administration of Taxation (SAT) jointly issued Circulars 53 and 54. These push further forward the ongoing reform of Resource Tax. Separately, also on 9 May, MOF, SAT and Ministry of Water Resources (MWR) jointly issued Circular 55. This expanded Resource Tax to cover water supplies on a pilot basis in Hebei province. All of these new rules come into effect from 1 July 2016.
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