Details

Service: Tax
Industry: Industrial Markets, Energy & Natural Resources
Type: Business and industry issue, Publication series, Regulatory update
Date: 5/8/2012

China extends royalty surcharge to onshore/offshore Sino-foreign oil and gas projects

China alert: Energy & Natural Resources Focus - Issue 3, May 2012

The Ministry of Land and Resources (MLR) issued Guotuzi Tingfa [2012] No.14 (Circular 14) on 31 March 2012. The regulation provides for royalty surcharges on Chinese and foreign enterprises engaged in both on- and offshore oil and gas exploitation in the People’s Republic of China (PRC). Circular 14 takes effect from 31 March 2012, and shall remain in force for a period of eight years.

Download Now

China alert: Energy & Natural Resources Focus - Issue 3 (PDF 135KB)

PDF files require Adobe Reader to view

Download Adobe Reader

Sign up now

Subscribe to receive email alerts or e-Newsletters from KPMG China when new updates are available.

Update profile and manage subscription

Not a member? Register

China in focus

Newsletters - Our weekly and monthly newsletters summarise industry news, market trends and updates in regulations for the China and Asia Pacific regions.

Tax newsletters

Latest articles & publications

	Uncertainty on the application of VAT pilot regime to foreign contractors

	Australia in the Asian century: Opportunities and challenges

	Commodity trading companies – Centralizing trade as a critical success factor



	More articles and publications

© 2013 KPMG Advisory (China) Limited, a wholly foreign owned enterprise in China and KPMG Huazhen (Special General Partnership), a special general partnership in China, are member firms of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

© 2013 KPMG, a Hong Kong partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

The KPMG name, logo and “cutting through complexity” are registered trademarks or trademarks of KPMG International.

KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

Healthcare & life sciences in China – Towards growing collaboration

The China cloud takes shape