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Public finance
This article is part of the series:
Finance and Taxation
Taxation
Income tax  ·  Payroll tax
CGT ·  Stamp duty  ·  LVT
Sales tax  ·  VAT  ·  Flat tax
Tax, tariff and trade
Tax haven
Tax incidence
Tax rate  ·   Proportional tax
Progressive tax  ·   Regressive tax
Tax advantage
Taxation by country
Economic policy
Monetary policy
Central bank  ·   Money supply
Gold standard
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Policy-mix
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Ecotax, short for Ecological taxation, can refer to:

  1. A fiscal policy that introduces taxes intended to promote ecologically sustainable activities via economic incentives. Public finance is a field of economics concerned with paying for collective or governmental activities and with the administration and design of those activities The field of finance refers to the concepts of Time, Money and Risk and how they are interrelated Payroll tax generally refers to two kinds of taxes: Taxes which Employers are required to withhold from Employees Pay, also known as Withholding A capital gains tax (abbreviated CGT) is a Tax charged on Capital gains the profit realized on the sale of a non-inventory Asset that was purchased Stamp duty is a form of Tax that is levied on documents Historically a physical stamp (a Tax stamp) had to be attached to or impressed upon the document to denote Land value taxation (LVT (or site value taxation) is an Ad valorem tax where only the value of land itself is taxed A sales tax is a Consumption tax charged at the Point of purchase for certain goods and services Value added tax ( VAT) or goods and services tax ( GST) is a consumption Tax levied on value added. A flat tax (short for flat rate tax is a Tax system with a constant tax rate The tax tariff and trade laws of a political region State or Trade bloc determine which forms of consumption and production tend to be encouraged A tax haven is a place where certain Taxes are levied at a low rate or not at all In Economics, tax incidence is the analysis of the effect of a particular Tax on the distribution of economic welfare. In a Tax system and in Economics, the tax rate describes the burden Ratio (usually expressed as a Percentage) at which a business or person is A proportional tax is a Tax imposed so that the Tax rate is fixed as the amount subject to taxation increases A progressive tax is a Tax imposed so that the Tax rate increases as the amount subject to taxation increases A regressive tax is a Tax imposed in such a manner that the Tax rate decreases as the amount subject to taxation increases Tax advantage refers to the economic bonus which applies to certain accounts or Investments that are by Statute, tax-reduced tax-deferred or tax-free Personal income taxes See also Income tax in Australia Only the federal government imposes income taxes on individuals and this is the most significant source of Taxation in the British Virgin Islands is relatively simple by comparative standards photocopies of all of the tax laws of the British Virgin Islands would together amount to about 200 The level of Taxation in Canada is average among Organisation for Economic Co-operation and Development (OECD countries Taxes provide the most important revenue source for the Government of the People's Republic of China. See Government of Colombia for a wider perspective of Colombian government See Government of France for a wider perspective of French government Taxes in Germany —being a Federal Republic —are levied by the federation ( Bund) the States ( Länder) as well as the HK Inland Revenue Ordinance Cap112 is one of Hong Kong's Ordinances Taxes in India are levied by the Central Government and the State Governments This article ls with Taxation in Indonesia or pajak. Definitions "Pajak" in Indonesian for Tax and taxes whereas " Perpajakan The system of Taxation in Ireland is broadly similar to the system of Taxation in the United Kingdom. The Netherlands has a rich history dealing with taxation predating the Romanic period. Taxation in New Zealand is collected at a national level by the Inland Revenue Department (IRD on behalf of the Government of New Zealand. The Income tax in Peru is collected by the Superintendencia Nacional de Administración Tributaria, best known as SUNAT. The Russian Tax Code is the primary tax law for the Russian Federation. Individual income tax in Singapore forms part of two main sources of Income tax, the other being Corporate taxes on companies In Tanzania the Income Tax Act 2004 came into effect in July 2004 Taxation in the United Kingdom may involve payments to a minimum of two different levels of government The central government ( Her Majesty's Revenue and Customs) Taxation in the United States is a complex system which may involve payment to at least four different levels of government and many methods of taxation Value added tax ( VAT) or goods and services tax ( GST) is a consumption Tax levied on value added. Comparison of Tax Rates around the world is a difficult and somewhat subjective enterprise This table lists countries by total 2005 Tax revenues (federal state and local as a percentage of GDP (Gross Domestic Product Economic policy refers to the actions that Governments take in the economic field. Monetary policy is the process by which the Government, Central bank, or monetary authority of a country controls (i the Supply of Money, A central bank, reserve bank, or monetary authority is the entity responsible for the Monetary policy of a country or of a group of member states In Economics, money supply, or money stock, is the total amount of money available in an Economy at a particular point in time The gold standard is a monetary system in which a region's common media of exchange are paper notes that are normally freely convertible into pre-set fixed quantities of Gold Fiscal policy, taking the scope of Budgetary policy, refers to government policy that attempts to influence the direction of the economy through changes in government taxes Government spending or government expenditure is classified by economists into three main types A budget deficit occurs when an Entity (often a Government) spends more Money than it takes in Government debt (also known as public debt or national debt) is Money (or credit) owed by any level of government either Central government Trade is the willing exchange of goods, services, or both Trade is also called Commerce. For other uses of this word see Tariff (disambiguation. A tariff is a tax imposed on goods when they are moved across a political boundary A trade pact is a wide ranging Tax tariff and trade pact that often includes Investment guarantees The field of finance refers to the concepts of Time, Money and Risk and how they are interrelated In Economics, a financial market is a mechanism that allows people to easily buy and sell ( Trade) financial Securities (such as stocks and bonds There are two basic financial market participant categories Investor vs Corporate finance is an area of Finance dealing with the financial decisions Corporations make and the tools and analysis used to make these decisions Personal finance is the application of the principles of Finance to the monetary decisions of an individual or family unit Public finance is a field of economics concerned with paying for collective or governmental activities and with the administration and design of those activities Financial regulations are a form of Regulation or supervision which subjects Financial institutions to certain requirements restrictions and guidelines aiming to A banker or bank is a Financial institution whose primary activity is to act as a payment agent for customers and to borrow and lend money Fractional-reserve banking is the banking practice in which Banks keep only a fraction of the value of their Bank notes and demand deposits in reserve Full-reserve banking is the Banking practice in which the full amount of each depositor's funds are available in reserve at the bank when each depositor Free banking is a theory of Banking in which commercial banks and market forces control the provision of banking services Islamic banking refers to a system of banking or banking activity that is consistent with Islamic law ( Sharia) principles and guided by Islamic economics Fiscal policy, taking the scope of Budgetary policy, refers to government policy that attempts to influence the direction of the economy through changes in government taxes Such a policy can complement or avert the need for regulatory approaches. Often, such a policy intends to maintain overall tax revenue by proportionately reducing other taxes, e. g. on human labor and renewable resources, in which case it is known as the green tax shift towards ecological taxation. Tax shift or Tax swap is a change in Taxation that eliminates or reduces one or several taxes and establishes or increases others while keeping the overall revenue
  2. The Pigovian taxes that are introduced by such a policy - see below. A Pigovian tax (also spelled Pigouvian tax) is a Tax levied to correct the negative externalities of a market activity

Contents

Taxes affected

Examples of taxes which could be lowered by a green tax shift:

Examples of ecotaxes which could be implemented or increased:

General remarks

The object of a green tax shift is often to implement a "full cost accounting", using fiscal policy to internalize market distorting externalities, which leads to sustainable wealth creation. Sustainability, in a general sense is the capacity to maintain a certain process or state indefinitely Wealth derives from the old English word "weal" which means "well-being

Tax shifting usually includes balancing taxation levels to be revenue-neutral for government and to maintain overall progressivity. For the government of parliamentary systems see Executive (government. A progressive tax is a Tax imposed so that the Tax rate increases as the amount subject to taxation increases

Basic economic theory recognizes the existence of externalities and their potential negative effects. In Economics, an externality is an impact on any party not directly involved in an economic decision To the extent that green taxes correct for externalities such as pollution, they correspond with mainstream economic theory. In practice, however, setting the correct taxation level or the tax collection system needed to do so is difficult, and may lead to further distortions or unintended consequences. Unintended consequences are outcomes that are not (or not limited to what the actor intended in a particular situation

Taxes on consumption may take the feebate approach advocated by Amory Lovins in which additional fees on less sustainable products — such as sport utility vehicles — are pooled to fund subsidies on more sustainable alternatives — such as hybrid electric vehicles. " Feebate " is a Portmanteau of "fee" and "rebate" Amory Bloch Lovins (born November 13 1947 in Washington DC) is Chairman and Chief Scientist of the Rocky Mountain Institute, a MacArthur A sport utility vehicle ( SUV) is a generic marketing description for a rugged automotive vehicle similar to a Station wagon but built on a light-truck chassis A hybrid electric vehicle (HEV is a Hybrid vehicle which combines a conventional propulsion system with a Rechargeable energy storage system (RESS

Progressive or Regressive?

Some green tax shift proposals have been criticized as being fiscally regressive (a tax with a marginal rate that decreases as the taxpayer's income increases). A regressive tax is a Tax imposed in such a manner that the Tax rate decreases as the amount subject to taxation increases Taxing negative externalities usually entails exerting a burden on consumption, and since the poor consume more and save or invest less as a share of their income, any shift towards consumption taxes can be regressive. In 2004, research by the Policy Studies Institute and Joseph Rowntree Foundation seemed to confirm this view. "MMIV" redirects here For the Modest Mouse album see " Baron von Bullshit Rides Again " The Policy Studies Institute is a British think-tank It was formed in 1978 through the merger of the former Centre for the Study of Social Policy and Political and Economic Planning The Joseph Rowntree Foundation is a British social policy research and development charity seeking to better understand the causes of social difficulties such as poverty and housing [1]

However, conventional regulatory approaches can affect prices in much the same way, while lacking the revenue-recycling potential of ecotaxes. Moreover, correctly assessing distributive impact of any tax shift requires an analysis of the specific instrument design features. For example, an ecotax can have a "lifeline" design, in which modest consumption levels are priced relatively low (even zero, in the case of water), and higher consumption levels are priced at a higher rate. Furthermore, an ecotax policy package can include revenue recycling to reduce or eliminate any regressivity; an increase in an ecotax could be more than offset by a decrease in a (regressive) payroll or consumption tax. Some proponents claim a second benefit of increased employment or lower health care costs as the market and society adjust to the new fiscal policy (these claims, as with the claim "tax cuts create jobs," are often difficult to prove or disprove even after the fact).

Furthermore, pollution and other forms of environmental harm are often felt more acutely by the poor, who cannot "buy their way out" of being receptors of air pollution, water pollution, etc. Such losses, although externalities, have real economic welfare impacts. In Economics, an externality is an impact on any party not directly involved in an economic decision Thus by reducing environmental harm, such instruments have a progressive effect.

Ecotax policies enacted

Environmental Law
Eco-taxes
Environmental impact assessment
Intergenerational Equity
International environmental law
Polluter pays principle
Precautionary principle
Public trust doctrine
Sustainable development


An ecotax has been enacted in Germany by means of three laws in 1998, 1999 and 2002. Environmental law is a complex and interlocking body of Statutes, Common law, Treaties, conventions Regulations and policies which very An ( EIA) is an assessment of the possible impact&ndashpositive or negative&ndashthat a proposed project may have on the Natural environment. Intergenerational equity, in the sociological and psychological context is the concept or idea of Fairness or Justice in relationships between Children International environmental law is the body of International law that concerns the protection of the global environment The Polluter Pays Principle is a principle in Environmental law where the polluting party pays for the damage done to the Natural environment. The precautionary principle is a moral and political principle which states that if an action or policy might cause severe or irreversible harm to the public or to the environment in the The public trust doctrine is the principle that certain resources are preserved for public use and that the government is required to maintain it for the public's reasonable use Sustainable development is a pattern of resource use that aims to meet human needs while preserving the environment so that these needs can be met not only in the present Germany, officially the Federal Republic of Germany ( ˈbʊndəsʁepuˌbliːk ˈdɔʏtʃlant is a Country in Central Europe. Year 1998 ( MCMXCVIII) was a Common year starting on Thursday (link will display full 1998 Gregorian calendar) Year 1999 ( MCMXCIX) was a Common year starting on Friday (link will display full 1999 Gregorian calendar) See also 2002 (disambiguation Year 2002 ( MMII) was a Common year starting on Tuesday of the Gregorian calendar. The first introduced a tax on electricity and petroleum, at variable rates based on environmental considerations; renewable sources of electricity are not taxed. The second adjusted the taxes to favor efficient conventional power plants. The third increased the tax on petroleum. At the same time, income taxes were reduced proportionally so that the total tax burden remained constant.

Registration taxes

The Netherlands, Portugal, UK and Finland have introduced differentiations into their car registration taxes to encourage car buyers to opt for the cleanest car models. Ecotax, short for Ecological taxation, can refer to A policy that introduces taxes intended to promote ecologically sustainable activities via economic incentives

In the Netherlands, the new registration taxes, payable when a car is sold to its first buyer, can earn the owner of a hybrid a discount up to €6000. The euro sign (€ is the Currency sign used for the Euro, the official currency of the European Union (EU

Austria has had a registration tax based on fuel consumption for several years.

See also : Vehicle registration plate

See also

References

  1. ^ BBC NEWS | UK | Green taxes 'would hit poor most'


External links

For the film producer see Nicholas Stern. Nicholas Herbert Stern Baron Stern of Brentford, FBA (born 22 April 1946
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