EU: Climate Mitigation Policy
On 16 September 2020 the European Union (EU) published on its website a departmental paper on EU Climate Mitigation Policy. The EU’s Emission Trading System (ETS) limits the total amount of emissions and allows participants to trade emission
See MoreOECD: Tax Policy for Economic Recovery
An OECD blog post on 3 September 2020 noted that countries have generally acted quickly to limit the economic consequences of the COVID-19 crisis, introducing fiscal packages of various sizes focusing on income support for households and
See MoreUK: Consultation on Carbon Emissions Tax
On 21 July 2020 the UK issued a consultation document in relation to the detailed operation of a carbon emissions tax. Comments are invited from interested parties by 29 September 2020. Emissions Trading System Under the withdrawal agreement
See MoreUN: Virtual Meetings of the Committee of Tax Experts
The UN Committee of Experts on International Cooperation in Tax Matters held their twentieth session in the form of a series of virtual meetings from 22 to 26 June 2020. In the meetings the Committee emphasised the need to provide guidance and
See MoreOECD: Working Paper on Effectiveness of Carbon Pricing Design
An OECD working paper entitled Carbon Pricing Design: Effectiveness, Efficiency and Feasibility was posted on the OECD website on 22 June 2020. The paper notes that carbon pricing helps countries to achieve carbon neutrality and looks at ways to
See MoreUN: Meeting of Committee of Experts on Taxation
The nineteenth session of the United Nations Committee of Experts on International Cooperation in Tax Matters was held from 15 to 18 October 2018. Issues discussed included transfer pricing, updates to the UN Model Tax Convention, dispute
See MoreSouth Africa introduces Budget 2019 in parliament
On 20 February 2019, Tito Mboweni (South Africa’s Minister of Finance) presented the Budget 2019 in the parliament. The budget proposal would not increase taxes in any category but proposed to increase tax collection by not adjusting for inflation
See MoreSouth Africa: Finance Minister presents the Budget for 2018
On 21 February 2018, South Africa’s Minister of Finance, Malusi Gigaba, delivered the Budget for the year of 2018. The budget includes the following tax proposals: VAT rate to increase from 14% to 15%. This change is effective from 1 April
See MoreOECD: Taxing Energy Use 2018
On 14 February 2018 the OECD issued Taxing Energy Use 2018, a publication that summarises the patterns of energy taxation in 42 countries of the OECD and G20. The countries included in the publication account for around 80% of global energy use. The
See MoreSouth Africa: National Treasury issues 2nd draft of the carbon tax bill for public comment
On 14 December 2017, the National Treasury was published the 2nd draft of the Carbon Tax Bill for public comment and presented in Parliament. The version of the second draft law is generally follows the first version (published in 2015) but reflects
See MoreOECD research considers the effectiveness of carbon tax and emissions trading
A report released by the OECD on 26 September 2016 entitled Effective Carbon Rates: Pricing CO2 through Taxes and Emission Trading Systems suggests that current carbon prices are not high enough to reduce greenhouse gas emissions. The research also
See MoreWorld Bank: Emissions trading and carbon taxes
Om 8 March 2016 the World Bank held a conference with over thirty developed and developing countries on the challenges of using carbon prices to reduce emissions of greenhouse gas. World Bank initiatives such as the Carbon Pricing Leadership
See MoreAustralia: Carbon tax repeal Bill tabled
The Prime Minister of Australia on 13 November 2013 tabled a bill canceling controversial carbon tax throughout the first session of parliament. The government is hoping to repeal the carbon tax in
See MoreAustralia: Draft Bill to repeal carbon tax
The Australian Prime Minister and Environment Minister on 15 October 2013 announce that the government has released draft legislation to repeal the carbon tax for public consultation. As per the government, the first enactment they will table in
See MoreAustralia: Under carbon tax emissions would Rise
The Ministry of Environment of Australia has said that the Australia’s projected emissions for the period from 2010 to 2020 would go up from 560m to 637m tones under the carbon tax. The Minister’s argument is that the carbon tax would damage
See MorePoland: Hydrocarbon tax from 2020
Poland’s environment ministry has changed its proposal on hydrocarbon law which is concerns of companies exploring for shale gas. The ministry has selected to push ahead with its plans to create NOKE, a state-controlled company that will take up
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