Norway proposes gradual increase in carbon tax rate

    Norway‘s Government proposed (08-Jan-2021) a new climate action plan to reach its emission reduction target under the Paris Agreement by 2030. The white paper proposes a gradual increase in the carbon tax rate from its current level of about NOK590 (EUR56.90) to NOK2000 (EUR192.87) per tonne of CO2 equivalents by 2030. This will progressively increase the cost of emitting CO2 and “give stronger incentives to reduce emissions”. The government stated its policy is not to increase the overall level of taxation and that any tax increase will be offset by reducing other taxes correspondingly. [more – original PR]

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