environmental tax tagged posts

OECD Says Tax Emissions More

February 15, 2018 International Tax Cooperation

tax on emissionsWASHINGTON D.C. – Developed countries around the globe are not taxing polluters enough to compensate for the harm they are doing to the environment.

The OECD has issued a new report which states that governments around the world are not using taxes to effectively slow down climate change.

Taxes are claimed to be an effective means of encouraging emitters to reduce their emissions levels or to move towards cleaner energy or more energy efficient products and methods.

However, an analysis of the taxes on emissions across 42 OECD and G20 countries between 2012 and 2015 indicated that such taxes are underutilized.

Aside from taxes on road transport, nearly 81 percent of emissions were untaxed in 2015.

The emissions which were taxed were taxed at less than EUR 30 per tonne of carbon dioxide...

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Carbon Tax Hurting NZ Shipping Operators

February 13, 2017 Taxation in New Zealand

Shipping in New ZealandWELLINGTON – Environmental taxes in New Zealand are leaving the burden of the tax on local shipping operators, while ships visiting on the short term are able to skip the levy entirely.

The New Zealand Shipping Federation has recently spoken out against taxation rules, which, it claims, are unfairly putting local shipping operators at a disadvantage.

Currently New Zealand has an Emissions Trading Scheme which sees oil fuel companies buy carbon credits to pass on to clients.

It was claimed that the Emissions Trading Scheme ultimately costs operators as much as NZD 250 000 per ship.

However, foreign ships which visit New Zealand and only make one or two stops are exempt from the tax, despite the fact that they do complete deliveries within the country.

According to the New Zealand Shipping F...

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Spain Sets Lofty Target for Environmental Tax

December 12, 2016 Taxation in Spain

Environmental taxes in SpainMADRID – Spain is hoping a new environmental tax will help bring in half a billion Euro to help reduce the national deficit.

Spain has released its revised budget plan for 2017, which included several new taxes aimed at lower the budget deficit enough to meet the goals set out for it by the European Commission.

In the budget plan it was stated that the government would reform the current system of environmental taxes, with a particular aim at reducing the country’s output of greenhouse gases.

While the plan did not set out exactly how the tax system would be reformed to achieve the government’s goal, it was stated that the changes are expected to bring in approximately EUR 500 million in extra tax revenues.

Spain is hoping to bring in an extra EUR 7...

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Sweden Drops Solar Tax

November 23, 2016 Taxation in Sweeden

Solar Tax in SwedenSTOCKHOLM – Sweden has slashed taxes on large-scale solar power generation, in an effort to see boost the uptake of renewable energy sources in the country.

In a press statement issued earlier this week the government of Sweden announced that it would be slashing the rate of tax applied on the large-scale production of solar electricity.

In 2016 the government enacted a tax of SEK 0.292 per kWh produced by large-scale solar arrays generation arrays in excess of 255 kW.

The government is aiming to eventually drop the tax entirely, however, legislative hurdles prohibit them from simply striking the tax.

Instead, the rate of the tax will be dropped by 98 percent to SEK 0.005 per kWh, with an exemption for solar arrays rated at less than 255 kW.

Sweden currently sees approximately 0...

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Renewable Energy a Reality, If Tax Evasion is Stopped

September 6, 2016 International Tax Cooperation

AMSTERDAM – All of Africa, Latin America, and parts of Asia could enjoy renewable energy, if governments around the world could combat tax avoidance.

The results of new research published late last week by the independent think tank Friends of the Earth International suggest that tackling global tax avoidance could fund a transition to renewable energy around the world.

The researchers suggested that currently government’s around the world are missing out on USD 600 billion worth of taxes due to international tax avoidance, with even further funds lost each year due to tax avoidance.

Conversely the cost of powering all of Africa, Latin America, and significant portions of Africa with completely renewable energy would only be approximately USD 507 billion per year.

It was noted that th...

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