Study On The Financial Impact Of The Reform Of AD Valorem Tungsten Resource Tax On Zhangyuan Tungsten Industry

Tungsten is a rare metal,has the reputation of "the tooth of industry".It is widely used in national security,national economy and other fields and occupies a pivotal position.It is listed as a strategic resource by many countries and becomes a strategic metal.The 13 th Five Year Plan period is an important stage for the acceleration and transformation of tungsten industry.The industry is developing well and the market demand is growing steadily,which brings opportunities for tungsten industry.At the same time,we should also clearly recognize that a series of problems such as disordered exploitation of resources,unreasonable industrial structure,lack of technological innovation,insufficient deep processing products and the effect of transformation of development mode are not obvious China’s tungsten industry has brought severe challenges,which has been threatening the healthy development of tungsten industry.The reason is that the lack of a reasonable price formation mechanism of tungsten resources is the root of the problem.The price of resource products is inelastic and divorced from the relationship between market supply and demand,which makes tungsten resources not used reasonably.In order to alleviate this situation,the formulation of tungsten resource price mechanism is particularly important.Price is the embodiment of value,and cost is one of the elements to form value,so product cost is included in price.Resource tax is included in product cost,which is of great significance to the formation of price mechanism.Since the tungsten resource tax was levied in 1994,the resource tax has been at a low level,and there is no reasonable way of tax calculation,which makes the function of resource tax gradually weakened.In order to build a reasonable resource tax system,China has experienced two resource tax reforms,but the reform of resource tax is bound to be a long-term systematic project.Scholars mainly focus on oil and gas resources,coal,iron ore,water resources and other resources.There are few researches on rare metals such as tungsten resource tax reform,especially on the effect of tungsten industry enterprise resource tax reform.This paper takes the financial impact of the reform of ad valorem collection of tungsten resource tax on Zhangyuan tungsten industry as the research object,and evaluates the realization of the reform purpose.On the basis of discussing the theory of resource tax,the background and purpose of resource tax reform,the influencingmechanism and the characteristics of tungsten resources and tungsten industry,this paper studies the financial impact of tungsten resource tax from four aspects of tax burden,operating results,cash flow and financial ability through case analysis.The main conclusions are as follows: first,after "clearing fees and setting up taxes",the status of resource tax has been greatly improved,and the relationship between taxes and fees has become more reasonable.At the same time,the tax burden of Zhangyuan tungsten industry as a whole has been reduced,and the adjustment role of resource tax can be better played;second,the tax method of ad valorem can play a more profit adjustment role,so that enterprises can promote the optimization and upgrading of product structure;third,the implementation of the resource tax system of ad valorem is not conducive to the cash flow of enterprises;fourth,the reform of ad valorem levy of resource tax has reduced the solvency and operation ability of Zhangyuan tungsten industry,and improved the profitability and development ability of Zhangyuan tungsten industry.Finally,this paper summarizes the impact of this reform on Zhangyuan tungsten industry in terms of finance,and puts forward corresponding countermeasures and suggestions from the perspective of enterprises,so as to promote the long-term sustainable and healthy development of Zhangyuan tungsten industry.