VATupdate

The Definitive Guide to European Plastic Tax Regulations

In July 2020, the European Union reached an agreement on its recovery package as a part of its efforts to eliminate the effects of the Covid-19 pandemic, including measures to support the circular economy and fight climate change. The plastic packaging levy is a part of these measures that intend to reduce packaging waste. The EU’s plastic levy is proposed under the Green Deal agreement to match its ambitions to reduce carbon emissions by 55 percent by 2030. Starting from January 1, 2021, a levy came into force at the EU level, based on the amount of non-recycled plastic packaging waste produced by each member state. Since then, the generated revenue from the levy on no-recycled packaging waste will go into the EU’s Covid-19 recovery fund.

Source Tax technology mews

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