ENERGY TAXATION
October 1st, 2003
BY KEITH NUTHALLUPSET and concern has been caused amongst European utilities by the extension agreed last week of a European Union (EU) system of minimum tax rates for mineral oils to all energy products, including electricity and natural gas. From the New Year, these products will attract minimum indirect taxes (excluding VAT), with the rates detailed in the directive. It was proposed by the European Commission and voted in by the EU Council of Ministers to reduce distortions of competition between Member States and different energy products to create a more ...
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