• Service: Tax
  • Industry: Industrial Markets, Energy & Natural Resources
  • Type: Business and industry issue, Publication series, Regulatory update
  • Date: 1/20/2012

Transfer of rights to use natural resources subject to Business Tax 

China alert: Energy & Natural Resources Focus - Issue 2, January 2012


The Ministry of Finance (MoF) and the State Administration of Taxation (SAT) issued Cai Shui [2012] No.6 (Circular 6) on 6 January 2012 to clarify that the transfer of rights to use natural resources within the territory of China falls within the scope of taxable item of 'transfer of intangible assets' under the current Business Tax (BT) regulations and that the obligees shall be liable for BT on transfer proceeds received. Circular 6 will be applied form 1 February 2012.


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