VATupdate

Share this post on

Budget 2022/23: Increase excise duty alcohol and tobacco, Carbon Tax

  • Taxes will be increased for alcohol and tobacco (by between 4.5% and 6.5%).
  • Regarding carbon tax, there is positive news that phase 1, which provides various allowances to reduce taxable emissions, will be extended to 31 December 2025. However, after this date, the rates will increase substantially to around USD 20 per metric ton by 2026 and will continue to increase rapidly thereafter.

Source Deloitte

Sponsors:

VAT news
VAT news

Advertisements:

  • VATupdate.com
  • AXWAY - VATupdate Banner