Economy 2021-04-15T05:02:38+03:00
Ukrainian news
Energy Ministry To Introduce CO2 Tax On Hydrocarbon Fuels

Energy Ministry To Introduce CO2 Tax On Hydrocarbon Fuels

tax, Energy Ministry, Oleksii Orzhel, CO2, hydrocarbon fuels, Orzhel

The Ministry of Energy and Environmental Protection intends to introduce CO2 tax on all hydrocarbon fuels.

Minister of Energy and Environmental Protection Oleksii Orzhel announced this during presentation of the ministry’s plans, the Ukrainian News Agency reports.

"A package of draft laws that envisages reforming the tax on carbon-dioxide emissions has already been prepared. All fuel that has a carbon-dioxide component will be taxed accordingly and taxed at the entrance to any enterprise that receives this fuel," he said.

According to him, the enterprises that pay this tax could use proceeds from the tax to implement energy-efficient measures to reduce their carbon-dioxide emissions and thus reduce their own carbon-dioxide emission taxes.

As Ukrainian News Agency earlier reported, in December 2018, the parliament raised the rate of the tax on carbon-dioxide emissions 24.4-fold from UAH 0.41 per ton to UAH 10 per ton from January 1, 2019.

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