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Reduced VAT rates to renewables sources
In these days ECOFIN (European Ministers of Economics and Financial Affairs) will discuss the update of EU VAT (Value added tax) directive. In the current version of Directive, gas and electricity consumption enjoy an income due to the VAT reduction established in the past to lower the burden of energy expenditures in poor households. This situation determines a distorsion in the energy market with an incentive in favour of energy consumtion against the goals of EU in terms of energy and environmental policy. The distortion could be avoided in two differt ways: 1) applying a full VAT rate to all types of energy consumtion; 2) extending VAT reduction also to renewable and energy efficient products.
This second solution has been formally proposed by France and UK governments and I strongly hope it will be approved, thus removing present level playing field at least in the area of indirect taxation.
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