Research On The Impact Of Resource Tax Reform On Shandong Gold Group Co.Ltd.Financial Performance

Following the joint announcement of the Ministry of Finance and the State Administration of Taxation in 2015 of the Notice on Implementing the Reform of Ad valorem Taxation of Rare Earth,Tungsten and Molybdenum Resources,a year after the resource tax was changed from quantitative quota taxation to ad valorem taxation,the Ministry of Finance and the State Administration of Taxation decided to promote the reform of mineral resources tax in an all-round way.In 2016,the State Administration of Taxation jointly promulgated the Notice on Comprehensive Estimation again.The Notice of Reform of Input Tax on Resources shall levy ad valorem on 21 kinds of resource items listed in the "Range Table of Tax Rates of Resources Tax Items" and other metal mines not listed.The basis of Taxation shall be adjusted from the sales volume of raw ore to the sales volume of raw ore,concentrate(or raw ore processed products),sodium chloride primary products or gold ingots.This time,the policy of changing fees into taxes has been implemented.The state is committed to resolving the problem of duplication of tax and fees levied by mineral development enterprises.Mineral fees,compensation fees for mineral resources,mineral rights prices and other mineral fees and related funds have been incorporated into the resource tax.The various fee funds for mineral enterprises established in violation of regulations and ultra vires have been banned,and the relationship between resource tax and fees for mineral enterprises has been straightened out.In the future,the industry will develop,create a good economic environment,and the resource tax reform is conducive to the optimal use of funds and the rational allocation of mineral resources,which greatly enhance the core competitiveness of mineral enterprises.At the same time,the overall promotion of the resource tax reform has also brought the greatest impact on China's mineral enterprises.This paper takes Shandong Gold Group Co.,Ltd.as the object of analysis,combines the research results of resource tax at home and abroad,uses the literature analysis method,based on the theoretical research foundation of resource tax,analyses the basic situation of Shandong Gold Group Co.,Ltd.and then analyses the comprehensive coverage of the policy of resource tax reform,the impact of Shandong Gold Group Co.,Ltd.tax accounting,and the theoretical design.On the basis of this,taking Shandong Gold Group Co.,Ltd.as an example,based on the tax burden data of enterprises and the financial report data of the past five years,this paper carries out the tax burden changes and the impact on the financial performance of enterprises,and carries out tax burden and financial performance analysis on the four aspects of the change of tax burden,the increase and decrease of financial indicators and Dupont's analysis of the reform policy of resource tax.This paper uses the combination of qualitative analysis and quantitative analysis,and combines the relevant theoretical basis of resource tax to get the overall impact of "resource tax reform" on the financial performance of Shandong Gold Group Co.,Ltd.Finally,the article gives some suggestions on how Shandong Gold Group Co.,Ltd.should adapt to the reform policy,in order to promote the long-term sustainable and healthy development of Shandong Gold Group Co.,Ltd.