Going Green

By Global Tax Weekly

I’m no climate change “denier” (a term I despise incidentally, with all its unpleasant overtones), but I’m not totally convinced that it’s happening either. As I’ve alluded to before in this column, at the same time, I also happen to think that the world would be an infinitely better, healthier place if we stopped burning fossil fuels and switched to cleaner alternatives. I realize that we are undergoing something of a transition towards that end all over the world, and that it’s not going to be completed overnight, or probably within my lifetime, but I would argue that governments are making a bit of dog’s breakfast out it. The United States managed to send men to the moon with less computing power than is available in your smart phone, and that’s because they spent billions of dollars on the Apollo program. Just imagine what could be achieved in the field of renewable energy if similar resources were made available, given how technology has advanced since 1969. But what do we have? A hodge-podge of carbon taxes, most of which get frittered away by some governments on unrelated spending programs, and the withdrawal of support for clean energy schemes by others. Astonishingly, some countries have actually taken to taxing renewables, with Spain, Hungary, and Germany guilty of levying — or trying to levy — charges on solar power. If you’re wondering where this is headed, it’s headed towards Brazil — I often chastise the Rousseff administration for its woeful record on tax, but it’s getting an encomium this week for proposals to expand tax breaks for electric cars. True, it’s a small step rather than a giant leap, but it’s a step in the right direction.

For more information on this, and other topical international tax matters, please visit: https://www.cchgroup.com/roles/corporations/international-solutions/research/global-tax-weekly-a-closer-look

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>


Australia Announces Budget Measures

The Australian Government announced in its Budget that it would be bringing forward personal tax cuts that had been scheduled for 2022.

The Australian authorities...

UK Clarifies VAT Rules

In the UK, while things are gearing up to get more complicated on pretty much all fronts, the tax authority sought to provide clarity...

Australia Focussing On COVID-19 Compliance

In Australia, the ATO is highlighting non-compliance by some businesses with the rules regarding eligibility for providing JobKeeper payments.

The JobKeeper Payment scheme is a...