Resource tax Reform gorgeous departure resource-oriented enterprises even hit the rocks

The resource tax reform, which has been bred for many years, is the first to bear fruit in Xinjiang, which is tantamount to a "bad harvest" signal for resource-oriented enterprises. The State Council last week at the Xinjiang work Symposium, the news said that Xinjiang will take crude oil, natural gas from the price of the resource tax model.　　News, state Securities, CICC, Guotai and other institutions invariably issued a report that PetroChina, Sinopec annual profit will be more obvious negative impact. However, such a strong incentive for local governments to develop resources industry behind the far-reaching intention, so that the interests of monopolies, the rise of inflation and other factors have failed to tie the country's determination to push tax reform.　　But upstream costs may be shifting downstream products to add another worry: In the absence of the smoke of the pricing game, the bill is the resource-oriented enterprises or ordinary consumers? From "metering" to "pricing", there are obvious defects in the oil and gas resources tax according to the output, tax is not related to the external price and sales of oil and gas resources, but with the rising oil prices, China's crude oil resources at present the price of the tax rate is only about 1.5%, far less than the international general The resource tax is the price of 10% '.　　"In the view of Zhang Jinghua, a researcher at the party School of the State administration of taxation, the adjustment of the more than 10-year tax standard is" fine tuning "relative to the five or six" tumbling "oil prices. According to the reporter, in July 2005, the Ministry of Finance and the State administration of taxation jointly announced the "Regulation of natural gas resources tax Standard Notice", the oil field enterprise crude resources tax standard from the original 8 yuan-30 yuan/ton adjustment for L4 yuan-30 yuan/ton, the natural gas resources tax standard from the original 2 yuan-l5 yuan　　/thousand cubic meters adjusted to 7 yuan-15 yuan/thousand cubic meters.　　This "palliative and not cure" of the adjustment is interpreted by the market as if it seems more inclined to symbolic meaning, in the complex geological environment is difficult to have the flexibility of resilience. Reporter from a brokerage research report that, in Daqing oilfield as an example, there are currently dozens of oil production blocks, the resource abundance between each block is different, there are water injection oil recovery zone, there are three oil recovery areas, there are thick-layer oilfield, also have the reservoir of outer-zone, the difference income disparity between each other, but with Daqing separated one river in Jilin oilfield a block geological structure,　　The abundance of resources is similar to neighboring blocks, but the tax rate is much lower. "The original resource tax is a quota of output tax, although it has low management costs and relatively stable fiscal revenue, but because China only 7 kinds of mineral taxes, the total amount of resources tax is negligible." Zhang Jinghua that the output tax increases the cost of mining and discriminates against smaller, less profitable businesses.　　And in the Xinjiang pilot model, will completely subvert this "measurement" of the tax model, change "metering" for "valuation". A rough estimate, according to the National Energy Agency released data, last year, 189 million tons of crude oil production, if measured in accordance with the current majority of the implementation of the 28 yuan per ton of standards to calculate, the stoneThe total oil resources tax is about 5.3 billion yuan.　　If the price is levied, according to the current domestic crude oil price per ton of 5000 yuan to calculate, to the industry estimates of the 5% tax rate, the national oil resources only tax will reach 47.25 billion yuan per year. Local fiscal collection "red envelopes" only on the book, direct more pay taxes of PetroChina, Sinopec Natural escape profit shrinking fate. PetroChina Annual report data shows that PetroChina's parent company, CNPC, in Xinjiang last year to achieve operating income of 217.4 billion yuan, pay 27.2 billion yuan tax.　　Chen Por, deputy director of PetroChina's financial assets department, admits that PetroChina alone will increase its resource tax cost by about 6 times times. According to Chen Por's budget, such as 5% in the national levy, the company may tax over 30 billion yuan a year. The money is clearly in the pockets of local governments. Relevant information shows that the oil prices of petroleum producers in the case, the government through the oil concessions and the corresponding increase in various oil taxes, the oil premium part of the state, such as Saudi Arabia, Iran and other Middle Eastern oil producers in 10 years to raise the resource tax, Germany,　　Low-tax countries such as France have a crude-resource tax of 34 times times the level of China. "The resource tax rate and its collection and management are in fact the focus of the central and local tax games in recent years." A professor of the Energy Research Institute of Jiaotong University in private to the reporter analysis, "PetroChina, Sinopec is the central government, they turned over profits to belong to the middle-level, the resource tax from the amount of the levy to the price levy, the expansion of local government revenue, But reduced the monopoly industry to turn over the profits.　　"There have been media reports, the resource tax reform has been suspended twice, one is by the Ministry of Finance, the State administration of taxation and other departments responsible for the development of the resource Tax reform plan, the overall thinking and main content as early as 2006 to complete the elaboration, and another is in the global financial crisis 2008 years. And for 5% of the pricing scale, Xinjiang region, a number of experts, officials said it is not high. Zhao Deju, director of the Government Research and Development center of the Xinjiang Uygur Autonomous Region, says Western developed countries typically levy a 16%-17% tax on oil resources. Xinjiang Uygur Autonomous Region party committee CPC chairman and CPPCC member Tang Gai said that the central government is the headquarters of the economy, PetroChina, Sinopec headquarters in Beijing, Xinjiang has not been much higher than the resource tax of the huge state tax, the local government rent, so 5% is reasonable.　　According to Zhao Deju's calculations, local finance will be increased by 10 billion yuan because of the oil resource tax, which is astronomical if combined with natural gas. National painting sustainable "territory" although the right of discourse is not completely equal, the pilot essay in Xinjiang means that the local government still occupies a strong position in the game. The market view is that the central "compromise" is actually a more macro and far-reaching considerations. Unlike the pure economic implication of ordinary taxes, resource tax is a kind of institutional arrangement to balance and restrict the utilization of scarce resources and the environmental problems related to them by reconfiguring. "Relevant experts Wang Keqing the view that these fees and charges into the cost of enterprises, as a rationalEconomic people's enterprises, in the use of resources will take into account its scarcity and compensation, and thus improve the utilization rate of resources. There are market recommendations that, in addition to the pilot oil, natural gas, coal resources can also be the same tax standard from the current 0.3-5 yuan/ton to 1-10 yuan/ton.　　In addition, considering the different resources recovery rate to develop different resources tax rate, or to 60% of the resource recovery ratio as the demarcation line, the establishment of different resources to tax the starting point, to achieve the prescribed recovery rate, to 12% of the sales profit margin as the starting point of the levy, to 6% sales profit margin for the levy start. "High quality resources, the implementation of low taxes on inferior resources, adjust the differential income of resources, so as to exclude the advantages and disadvantages of the unit or individual profit distribution unreasonable." "The view is that the low oil resource tax makes the vast majority of the value of oil resources into the profits of oil companies, a significant proportion of excess profits to the foreign investors in the state-owned oil companies, in addition to 10% of the country, a large part of the oil companies are expanding the source of funds," The state or the public does not derive much from the monopoly of state-owned enterprises in oil resources and oil industry. Khojianglin, a professor at the East China University of Petroleum Management, said that, in addition to the resource tax, the main tax of our petroleum enterprises also includes the compensation fee of mineral resources, but it is difficult to solve the problem of oil recovery. "Local financial resources at all levels are not sufficient, and it is difficult to raise funds from other sources for environmental protection, not to mention the use of funds to solve the problem of structural transformation of resource-depleted cities due to historical reasons, thus affecting the effect of ecological policy implementation." According to the law, the resource tax is included in the general revenue, which is mainly used to solve the differential income problem and the oil resources compensation is included in the budget.　　Mainly used in oil resources exploration and other expenditures. In addition, there are securities brokers observed that the low level of resources and fees and charges led to insufficient compensation for national resource ownership, the loss of state revenue, resources and taxes can not reflect the real value of resources, its economic lever regulation can not be fully played, the cost of enterprise resources is missing, resulting in low resource prices.　　At the same time, the promotion of low-cost expansion of enterprises, resulting in a serious dark, enterprises and individuals to obtain mining rights of the economic cost is too low, resulting in resource development in the field of small and medium-sized enterprises, resource segmentation is serious, affecting the overall efficiency of resource utilization. The far-reaching intentions of the oil companies ' wishful thinking and the local government's tax "drop bag" ... In the multi-party game of reform, it seems that the most direct losers are oil companies. PetroChina, the head of the financial assets department has publicly poured grievances: "The resource tax reform will greatly increase the tax burden of enterprises, it is difficult for oil enterprises to take concrete measures, because the huge increase of resource tax can not achieve the price, the oil enterprises need to digest and bear, in the case of substantial increase in tax costs, The original economically recoverable marginal oil reserves may fall into a loss, directly affecting the marginalReserves are mined to reduce domestic oil supply. "But interestingly, PetroChina chairman Jiemin last week called for the opportunity to make use of the resource tax reform and rationalize the resource-tax mechanism, preferably in conjunction with oil special-income gold."　　He said that at present the starting point for special income is set at 40 U.S. dollars, with the renminbi appreciation, is actually already 33 U.S. dollars, there is no special profit on this price. According to the reporter understand, oil special income gold also known as "windfall tax", refers to the domestic crude oil sales price exceeds a certain level, the State in a certain proportion from the oil production enterprises to sell domestic crude oil obtained by the excess income collected in the special income. This provision has been in place since March 2006, where enterprises that independently exploit and sell crude oil in China's terrestrial and territorial waters, and other enterprises that exploit and sell crude oil in such areas as joint ventures and cooperation, shall be required to apply for more than $40/barrel for crude oil,　　The excess income obtained is paid the special income of oil in the way of the 5-level excess progressive pricing rate. In fact, journalists note that the current rate of 20% to 40% in China is not high compared with the international 60%-100% similar taxes. It is estimated that the current levy of "special income" will have an impact on the oil production sector of about 30 billion yuan, accounting for about 15% of the total profit. In addition, it is reported that the mineral resources compensation fee according to the proportion of mineral products sales income, according to different mineral resources, in accordance with its sales revenue 0.5%-4% levy.　　China's oil, natural gas, coal, coalbed methane and other important energy sources of compensation fees are only l%, while foreign oil, natural gas, mineral resources compensation fee collection rate is generally 10% to 16%. On the other hand, is it true that the oil predators who shouted for a rise in the levy of special income, with "too much tax pressure"? Most analysts say that for many industries, especially downstream industries, the negative impact is even more pronounced. It is reported that the resource tax reform will improve the resources of raw materials and basic product prices, will result in the upstream production of goods prices rise, because the right to speak in hand, it is easy to pass this cost to downstream enterprises, and downstream enterprises may eventually let consumers pay.　　There are also securities companies predict that the state may use the modification of special income and other tools to ensure that the overall tax level of oil enterprises unchanged. The need to adjust the tax light fee The reporter also learned that, in addition to the current tax burden on the resources of the average low, around the collection of mineral resources there are a variety of costs, the actual number is minimal.　　Including Mineral resources compensation fee, energy base construction Fund, mine special maintenance fee, mineral management fee, water resources compensation fee, land loss compensation fee, afforestation fund, forest fee and so on multiple resources fee and fund, resource mining enterprise's expense burden rate is much more than the resource tax burden rate that it undertakes. Historical data show that, taking Shanxi province as an example, the average charge of coal mining enterprises in 2005 is 25.27%, the average tax burden is about 10%, the capitalThe source tax burden is only 2.02%, and oil, natural gas and other minerals have the same problem of heavy tax.　　Market observation that the relationship between tax and fee is seriously maladjusted, the phenomenon of tax and soft fees is widespread, and that a large number of charges belong to different departments of charge, arbitrary, and urgently need to be adjusted. "Although we have designed a variety of tax (fee) types for resource enterprises in the system, however, each tax (fee) is either because the rate of tax (fee) is too low, can not adjust the interests of all parties, or because the special status of a few resources monopoly enterprises make some tax (fees) species in practice difficult to implement. "The relevant people from Sinopec Research Department think.　　Anshan Iron and Steel mining group economist Zheng Yongxu told reporters that prospecting rights, mining rights and mineral resources compensation fees exist repeated levy phenomenon. "From the use of the compensation fee, this cost is specifically used to compensate for the exploration input of the geological Prospecting department, but after the implementation of the measures for the administration of the transfer of prospecting rights and mining rights, the applicant for mining rights will only be able to obtain the geological prospecting data for mining use only if the prospecting right is paid to the prospector." Zheng Yongxu said　　Since the geological exploration cost has been incorporated into the Mineral resources discovery right value and paid to the mining unit, it constitutes a part of the mining right value, and the Mineral Resources Law stipulates that the mining right person must pay the mineral resources tax and the mineral compensation fee, which constitutes a repeated levy on the geological prospecting input. Reporter noted that although the State Council had promulgated the "collection of compensation fees for mineral resources" as early as l994, the compensation fees for China's oil, natural gas, coal and coalbed methane are only l%, while the rate of compensation for foreign oil, natural gas and mineral resources is generally 10% to 16%. The U.S. oil, gas, coal (open-pit) rights Jinfei rate of up to 12.5%, Australia, Malaysia, 10%.　　According to the analysis, the low compensation fee standard so that should belong to the state and local income transfer to the developer hand, resulting in the distortion of income distribution relationship. On the other hand, royalties on mining rights are also highly symbolic. According to the regulations on the management of mineral resources exploitation registration, the utilization fee of mining right is paid yearly according to the area of mining area, and the standard is 1000 yuan per square kilometer per year. In other words, even the entire land area of 9.6 million square kilometers is only 9.6 billion. (Lau Jiadi)