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	CIRCULAR OF THE MINISTRY OF FINANCE AND THE STATE ADMINISTRATION OF TAXATION ON ADJUSTING THE STANDARD FOR RESOURCE TAXES ON CRUDE OIL AND NATURAL GAS

	(No. 115 [2005] of the Ministry of Finance, July 29, 2005)


SUBJECT : RESOURCE TAXES; CRUDE OIL AND NATURAL GAS; ADJUSTMENT
ISSUING DEPARTMENT : MINISTRY OF FINANCE OF THE PEOPLE'S REPUBLIC OF CHINA, STATE ADMINISTRATION OF TAXATION
ISSUE DATE : 07/29/2005
IMPLEMENT DATE : 07/01/2005
LENGTH : 375 words
TEXT :

Upon deliberation, we've decided to adjust the per-unit tax amounts for the resource taxes of oilfield enterprises on crude oil and natural gas as of July 1, 2005. Please refer to the attachment for the adjusted tax amounts.

Attachment: Form of Tax Amounts Per Unit for Crude Oil and Natural Gas

FORM OF TAX AMOUNTS PER UNIT FOR CRUDE OIL AND NATURAL GAS

Tax Item: Crude Oil; PetroChina Xinjiang Oilfield Company, PetroChinaTuha Oilfield Company, PetroChina Tarim Oilfield Company, PetroChina Tarim-Henan Exploration Company, SINOPEC Northwest Company, PetroChina Qinghai Oilfield Company, PetroChina Daqing Oilfield Co. Ltd
Tax Amount: 30 yuan
Unit: ton

Tax Item: Crude Oil; PetroChina North-China Oilfield Company, PetroChina Changqing Oilfield Company, Yanchang Oil Deposit Administration
Tax Amount: 28 yuan
Unit: ton

Tax Item: Crude Oil; PetroChina Jidong Oilfield Company, PetroChina Dagang Oilfield Company, SINOPEC Jianghan Oilfield Company, SINOPEC Zhongyuan Oilfield Company, SINOPEC Zhongyuan Oil& Gas Hi-tech Co. Ltd
Tax Amount: 24 yuan
Unit: ton

Tax Item: Crude Oil; SINOPEC Shengli Oilfield Co. Ltd, PetroChina Liaohe Oilfield Company, PetroChina Jilin Oilfield Company, SINOPEC East-China Company,SINOPEC Jiangshu Oilfield Company, SINOPEC Henan Oilfield Company
Tax Amount: 22 yuan
Unit: ton

Tax Item: Crude Oil; CNPC South-west Oil & Gas Field Company, PetroChina Yumen Oilfield Company
Tax Amount: 18 yuan
Unit: ton

Tax Item: Crude Oil; Any other petroleum exploration companies
Tax Amount: 16 yuan
Unit: ton

Tax Item: Crude Oil; Thickened oil and highly-enriched oil ofall enterprises
Tax Amount: 14 yuan
Unit: ton

Tax Item: Crude Oil; CNPC South-west Oil & Gas Field Company
Tax Amount: 15 yuan
Unit: kilostere

Tax Item: Crude Oil; PetroChina Daqing Oilfield Co. Ltd
Tax Amount: 14 yuan
Unit: kilostere

Tax Item: Crude Oil; SINOPEC Shengli Oilfield Co. Ltd, PetroChina Liaohe Oilfield Company
Tax Amount: 13 yuan
Unit: kilostere

Tax Item: Crude Oil; PetroChina Changqing Oilfield Company
Tax Amount: 12 yuan
Unit: kilostere

Tax Item: Natural Gas; PetroChina North-China Oilfield Company, PetroChina Dagang Oilfield Company, SINOPEC Zhongyuan Oilfield Company, SINOPEC Zhongyuan Oil& Gas Hi-tech Co. Ltd, SINOPEC Henan Oilfield Company, PetroChina Xinjiang Oilfield Company, PetroChina Jidong Oilfield Company, PetroChina Tuha Oilfield Company, PetroChina Tarim Oilfield Company, PetroChina Jilin Oilfield Company
Tax Amount: 9 yuan
Unit: kilostere

Tax Item: Natural Gas; Any other natural gas exploration enterprises
Tax Amount: 7 yuan
Unit: kilostere