VATupdate

US Senate proposes an excise tax on virgin plastics rated at 0.20 USD per pound fee

The US Senate proposed a list of tax increases that could be enacted to pay for the 3.5 trillion USD Budget Reconciliation Bill proposed by President Joe Biden.

One of the tax increases generating much debate is the federal excise tax on virgin plastics which are plastics that are not reprocessed nor recovered. The tax would be at a rate of 0.20 USD per pound of virgin plastics used to make single-use plastics products.

Source GlobalVATcompliance

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