EU Council Endorses Tax Incentives to Boost Clean Technologies and Industrial Decarbonization

• The Council endorsed tax incentives as key tools to promote clean technologies and industrial decarbonization, aligning with the EU’s Clean Industrial Deal.
• Tax incentives should be simple, flexible, cost-effective, and tailored to each member state’s circumstances, with regular evaluation and sharing of best practices.
• The Council emphasized the importance of supporting clean energy and technology without hindering market development or investment.
• Expenditure-based incentives like accelerated depreciation and investment tax credits are favored, but should be designed inclusively.
• The Commission is invited to keep member states updated on international tax incentive developments and assist with implementation and monitoring.

Source: taxathand.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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