Xinjiang'S Oil And Gas Resources Tax Is Raised 16 Times.

Xinjiang crude oil and natural gas resource tax reform plan will not take the lead in singling out.

Yesterday, the Ministry of Finance promulgated the "Regulations on the reform of crude oil natural gas resources tax in Xinjiang" (hereinafter referred to as the "Regulations"). In June 1st, the resource tax reform initiated by Xinjiang in June 1st involved two major resources of crude oil and natural gas, and the two resource tax was assessed at ad valorem, with a tax rate of 5%.

Since the resource tax is local income, the promotion of resource tax reform under the background of the general rise of resource prices will undoubtedly increase the revenue of local governments.

According to the energy data of Xi Wang, before the resource tax reform, the crude oil resources tax in Xinjiang will be executed at 12 yuan per ton, and if the 5% tax rate is implemented thereafter, the tax will jump to about 200 yuan per ton, which is 16-17 times the original one.

In terms of natural gas, the annual output of natural gas in Xinjiang was 2 million 450 thousand tons (about 3 billion 300 million cubic meters) in 2009. The current natural gas tax rate is 9 yuan / 1000 cubic meters, and the total resource tax is 30 million yuan.

If calculated according to the 5% ad valorem method, the average price of local natural gas in 2009 is 820 yuan / 1000 cubic meters, and the total resource tax is 135 million yuan.

That is to say, for the Xinjiang region, the tax on natural gas resources tax will increase by 3.5 times.

Although the resource tax after the ad valorem levy will bring greater tax and fee growth to oil giants, the industry believes that once the resource tax reform is implemented in the future, the existing oil companies' special income payments will be adjusted to resolve the tax burden of enterprises.

Prior to this, Jiang Jiemin, chairman of CNPC, emphasized many times before the media that although PetroChina supports the reform of resource tax, it is recommended to integrate resources tax and special income fund.

In this regard, Li Yulong, director of strategic development of PetroChina global engineering company, also said in an interview with reporters that although it is unlikely that the special income fund will be abolished in the future, it is possible for the state to raise the threshold of special income.

In his view, raising the threshold to US $60 would probably offset the increased tax burden on resource tax reform.

For the impact of the reform, Zhou Xiujie, a researcher in the energy industry of CIC, believes that a large amount of capital will flow to those areas that have not yet implemented the resource tax reform, and seize the last opportunity to frantically exploit and pillage.

Therefore, the reform of the resource tax should be spread out in the whole country as soon as possible.

"Although inflation pressure is not high, inflation expectations remain, so opportunities for resource tax reform are fleeting."

An Tifu, Professor of Finance College of Renmin University of China, pointed out that the resource tax reform should be pushed to the national level as soon as possible after the pilot work in Xinjiang.

Liu Huan, vice president of the school of Finance and public administration, Central University of Finance and Economics, believes that the current pricing system for refined oil is still the state's pricing, and that the collection of resource tax will undoubtedly impose additional burden on the oil companies. Therefore, the schedule of comprehensive resource tax is still hard to predict.

"But it is certain that during the '12th Five-Year' period, the state resources tax regulations will be more complete.