UN Tax Committee: Report on Environmental Taxation
On 25 March 2025 the Subcommittee on Environmental Taxation submitted its final report to the UN Tax Committee, including an updated paper for approval and recommendations for future work to be considered by the new membership of the Tax Committee
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Canada: Prime Minister Mark Carney abolishes consumer carbon tax
Canadian Prime Minister Mark Carney has abolished the consumer carbon tax effective from 1 April 2025. The change, enacted through Orders in Council (OICs) 2025-0446 and 2025-0447, removes the Canada fuel charge, introduced by former Prime Minister
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Netherlands consults airline tax reform
The Netherlands government is seeking public feedback on proposed reforms to the airline tax which aims to adjust rates based on flight distance. The government wants to increase the total revenue from the flight tax by EUR 248 million by 2027.
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Iceland proposes mileage tax on fossil fuel cars, doubles carbon tax
Iceland’s Ministry of Finance and Economic Affairs submitted a bill to parliament on 22 October 2024 proposing introducing a mileage tax on fossil fuel-powered vehicles. The bill aims to eliminate excise duties on fuels and vehicles while
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European Commission approves Danish State Aid for greenhouse gas tax cuts
The European Commission announced it approved, under EU State aid rules, a EUR 724 million (DKK 5.4 billion) Danish scheme to lower the rate of new greenhouse gas (GHG) emissions tax for certain companies. The scheme offers a reduced tax rate for
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UN Tax Committee: Environmental Taxation
On 16 October 2024 the UN Tax Committee discussed environmental tax issues. The environmental taxation subcommittee presented some papers to the committee for discussion or approval. Phasing out fossil fuel subsidies A paper on phasing out
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Belgium introduces tax measures for Flemish region
Belgium’s new government agreement for the Flemish region includes various tax measures, which includes amendments to inheritance and property taxes. Under the new tax measures, effective in 2026, inheritance tax rates will decrease for small
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Netherlands unveils ESG proposals on 2024 Budget Day
The Netherlands government submitted the 2025 Tax Plan to the lower house of Parliament on 17 September 2024. In addition to various proposals to improve the taxation system, the tax plan includes several proposals related to environmental, social,
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UN publishes draft guidance on carbon offsets, carbon credits in transfer pricing
The UN Subcommittee on Transfer Pricing published an advanced unedited version of the guidance Interstitial Guidance on Transfer Pricing of Carbon Offsets and Carbon Credits on 28 August 2024. The draft is an updated version of a document
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Thailand to implement carbon tax by 2025
Thailand’s Deputy Finance Minister Paopoom Rojanasakul announced that the country will implement a carbon tax by 2025, as part of its efforts to address climate change and promote sustainable practices, on 26 September 2024. The carbon tax will
See MoreIMF Report on Turkey Recommends Tax Changes
On 28 August 2024 the IMF issued a report following discussions with Turkey under Article IV of the IMF’s articles of agreement. The economic policies followed by Turkey since mid-2023 have reduced crisis risks and raised confidence. There was
See MoreIMF: Tax Policy Can Limit Carbon Emissions from AI and Crypto
An IMF blog of 15 August 2024, written by Shafik Hebous and Nate Vernon-Lin, indicated that tax policy can be used to restrict the surge in carbon emissions resulting from artificial intelligence (AI) and crypto. Owing to the amount of
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Denmark to introduce agricultural carbon tax
Denmark unveiled a long-term plan, on 24 June 2024, to restructure its agricultural industry and land use. This plan tackles greenhouse gas emissions with a new tax on livestock emissions. “We will be the first country in the world with a
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IMF and World Bank annual meetings 2023
The IMF/World Bank annual meetings were held from 9 to 15 October 2023. Improving Tax Capacity in Developing Countries On 15 October 2023, a fiscal forum was held on improving tax capacity in developing countries. The address by Katherine Baer
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UN Tax Committee considers transfer pricing and treaty issues
The 27th session of the UN Committee of Experts on International Cooperation in Tax Matters took place from 17 to 20 October 2023. Subcommittees dealing with various areas of taxation presented updates to the Tax Committee on their
See MorePlatform for Collaboration on Tax: Study of Carbon Pricing Metrics
On 8 September 2023 the Platform for Collaboration on Tax (PCT) issued a report on carbon pricing metrics. The PCT was set up for collaboration between the IMF, OECD, UN and the World Bank and supports countries in strengthening their tax systems by
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OECD: Inclusive Forum on Carbon Mitigation Approaches
The Secretary General of the OECD prepared a report for the meeting of G20 leaders on 9 and 10 September 2023 updating them on the work of the Inclusive Forum on Carbon Mitigation Approaches (IFCMA). The IFCMA which was launched in February 2023
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OECD: Roadmap on Developing Countries and International Taxation
On 17 July 2023 the OECD produced a report on tax and development issues for the meeting of G20 finance ministers and central bank governors. The report looks at the participation of developing countries in the ongoing work of the Inclusive
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