resource tax tagged posts

Finland Dropping Coal in Favour of Nuclear

September 5, 2017 Taxation in Finland

CoalHELSINKI – Finland hopes that carbon tax will help the country shed its position as the highest user of coal in Scandinavia.

Finland is aiming to phase out the use of coal for power generation by raising carbon taxes and introducing legislation to encourage the use of nuclear power.

The government of Finland hopes that by 2030 the country will no longer rely on the use of coal for national power-generation.

In order to replace the power currently sourced from coal, the country will shift its reliance towards nuclear power stations.

Two new stations are being constructed, and are expected to come online in 2018 and 2024.

Currently, Finland sources 10 percent of its power from coal-burning plants, the highest coal-utilization rate in Scandinavia.

The director general in Finland’s energy dep...

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Germany Forced to Drop Nuclear Tax

June 8, 2017 Taxation in Germany

Nuclear Power Plant, GermanyBERLIN – Nuclear power generators in Germany are set to see a windfall of billions of euros, after a court ruled that a six year old tax on nuclear power was unconstitutional.

The Constitutional Court of Germany has ruled that the government’s tax on the use of nuclear fuel rods by energy producers is unconstitutional and void.

The ruling means that the billions of euros paid by the energy producers since 2010 will be refunded.

It has been estimated that the payout by the government could reach EUR 6 billion, even before interest is taken into account.

The German government has been taking repeated actions to diminish the use of nuclear power in the country, after vowing in 2011 that by 2022 Germany would no longer rely on nuclear-power generation.

The plan to close down the plants is ...

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Saudi Arabia Slashing Tax for Oil Companies

March 28, 2017 Taxation in Saudi Arabia

Oil producers taxRIYADH – Saudi Arabia is eye tax changes which are stacked to heavily benefit the IPO of the state oil producer.

The government of Saudi Arabia has now announced that it will retroactively reduce the income tax paid by oil companies operating in the country, although some experts believe that the move is intended to increase the interest in the IPO of the state oil producer Saudi Aramco.

Currently, oil producers in Saudi Arabia are charged a rate of income tax of 85 percent, which would now be reduced to a rate of 50 percent, applicable for all incomes from January 1st this year.

The rate of the tax will vary based on the amount of investment committed by each respective firm, with lower levels of investment seeing a higher rate, maxing out at the current level of 85 percent.

It is expe...

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New Zealand Wont See Water Tax

March 20, 2017 Taxation in New Zealand

Water in New ZealandWELLINGTON – Bottlers and exporters of premium New Zealand water will be breathing a sigh of relief, as the Prime Minister explains why they will not be paying a water tax any time soon.

In a television interview on Match 20th the Prime Minister of New Zealand explained that the government would not soon see the implementation of a tax on the bottling of water to be sold outside of New Zealand.

Recently, New Zealand has seen an increase in public outcry and media controversy regarding the issue of water being collected from New Zealand springs and lakes, and being sold overseas, as the businesses which win the rights to bottle the water, only pay a minimal price for the privilege.

The controversy has led to the suggestion that businesses which bottle water and sell it overseas should be...

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China Drops Export Tax on Aluminum and Rare Earth Metals

April 24, 2015 Taxation in China

BEIJING – The international market for metals could undergo a significant adjustment, as China drops a 15 percent export tax on a number of metals.

On April 25th the government of China announced that the export tax on aluminum, rare earth metals, and selected other metals, such as tungsten and molybdenum.

The export taxes, which are set at 15 percent, were originally enacted to protect the supply of the metals in China, while simultaneously helping foster the mining industry and any other industry using the metals as raw materials.

The removal of the tax is part of a wider set of measures to streamline the taxation system in China and to reduce the red tape faced by businesses.

Soon after the announcement the benchmark for aluminum prices on the London Metal Exchange fell by 1...

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