Blockbuster! The three departments jointly issued the Measures for Collection of Income from Transfer of Mining Rights

On April 14, the Ministry of Finance, the Ministry of Natural Resources and the General Administration of Taxation jointly issued a heavy notice.

The circular made it clear that in order to further improve the system of paid use of mineral resources, standardize the collection and management of the proceeds from the transfer of mining rights, safeguard the rights and interests of the state owners of mineral resources, promote the protection and rational utilization of mineral resources, and promote the healthy and orderly development of relevant industries, the Ministry of Finance of the People's Republic of China (MOFTEC) has issued a notice to the State Council. The Ministry of Finance, the Ministry of Natural Resources and the State Administration of Taxation have formulated the Measures for the Collection of Income from the Transfer of Mining Rights (hereinafter referred to as the Measures).

Some enterprises, experts and scholars, deputies to the National People's Congress and members of the Chinese People's Political Consultative Conference have reflected the problems in the past policy implementation, such as the fast pace of collection and the heavy burden on enterprises, and suggested that the method of collecting the proceeds from the transfer of mining rights should be revised and improved according to actual needs.

This measure will come into effect on May 1, 2023. The Interim Measures for the Collection and Management of Income from the Transfer of Mining Rights (Cai Zong [2017] 35) and the Notice of the Ministry of Natural Resources of the Ministry of Finance on Further Clarifying the Collection and Management of Income from the Transfer of Mining Rights (Cai Zong [2019] 11) shall be abolished at the same time.

The following is the full text of the Measures: