carbon tax tagged posts

Germany Refuses EU Tax

January 19, 2010 Taxation in EUTaxation in Germany

DSC_2462The Finance Ministry of Germany has stated that it is opposed to the imposition of an EU-wide tax, in response to a suggestion by the Finance Ministry of Luxembourg.

Ahead of the EU and Euro-zone Finance Minister Summit held on January 18th and 19th, Luc Frieden, Finance Minister of Luxembourg, called for a new tax to be instated across the whole of the EU. German officials quickly denounced the idea, claiming that the EU already has sufficient funds. The German Ministry also claimed that any created taxes would also serve to further complicate the standing fiscal contribution system.

The current EU fiscal contribution system is based on revenues gathered from customs and import duties, along with a levy on the Gross National Income of each member state...

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Sarkozy Vows to Instate Carbon Tax

January 7, 2010 Taxation in France

Nicolas SarkozyFrench President Nicolas Sarkozy has vowed to amend and instate a new carbon tax in France, after his original attempt was deemed to be unlawful.

Speaking at the first cabinet meeting of 2010, on January 5th, Nicolas Sarkozy informed ministers that he intends to see a new carbon tax law implemented in the country and come into effect on July 1st. The tax is expected to raise €3.5 billion annually, which will be used to aid households in reducing energy consumption. If successful, the carbon tax laws will see France as the largest economy so far to implement a carbon levy.

The carbon tax laws were initially planned to come into effect on January 1st, but were deemed unlawful by the French Constitutional Council on December 29th, 2009...

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France to Introduce Carbon Tax

September 14, 2009 Taxation in EUTaxation in France  No comments

An ambitious shift in taxation has been announced in France, loading levies on pollution while alleviating pressure in other taxation areas.

Nicolas Sarkozy, President of France, revealed plans on the 10th of September at a speech made in Culoz, for the introduction of a Carbon Tax in France. The Carbon Tax bill, which is slated to come into effect on the 1st of January 2010, will see an €17 levy imposed on each tone of carbon dioxide produced. The bill covers carbon emissions from petrol, gas and coal. No levies will be installed in electricity usage, as only 20% of France’s power production comes from non nuclear or renewable sources. Additionally, electricity produced in French power stations is already covered a Europe spanning carbon quota system.

If passed through parliament, Fra...

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Irish Commission on Taxation Released

August 28, 2009 Taxation in EUTaxation in Ireland  No comments

The Irish Government’s Commission on Taxation has released its report reviewing the Irish taxation system and its subsequent recommendations.

Today, the Commission on Taxation handed its report with over 250 recommendations regarding Ireland’s financial taxation system to Brian Lenihan, Minister of Finance. Due to errors in its indices, the 600 page report will not be made available to the public until early to mid-September. The report was originally requested to be complete on the 20th of September but has been completed ahead of the initial schedule.

Among others, the main recommendations include the introduction of water tax and increased carbon taxes...

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