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FOSSIL FUEL AND RENEWABLE ENERGY WOKSHOP

FOSSIL FUEL AND RENEWABLE ENERGY WOKSHOP. May 2014. Taxes on fossil fuel. Excise duty: revenue raising MID Levy: to finance environmental programmes , especially MID . Evolution of rates. Excise duty Rs 2 bn ( around US $ 66 m). Evolution of rates. MID levy introduced in June 2008.

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FOSSIL FUEL AND RENEWABLE ENERGY WOKSHOP

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  1. FOSSIL FUEL AND RENEWABLE ENERGY WOKSHOP May 2014

  2. Taxes on fossil fuel • Excise duty: revenue raising • MID Levy: to finance environmental programmes , especially MID

  3. Evolution of rates • Excise duty Rs 2 bn ( around US $ 66 m)

  4. Evolution of rates • MID levy introduced in June 2008

  5. MID LEVY • MID levy is imposed on domestic consumption as well as re-export (bunkering) • Issue: Aviation spirit: MID levy is in contraction of the International Civil Aviation Organisation Principle of Taxation: Commitment to remove it next year • Bunkering : making our project less competitive.

  6. IS MID LEVY A CARBON TAX?Source PARRY, IMF 2011

  7. LPG • Mainly used by household for cooking • 12 kg cylinder subsidised price Rs 330 • subsidy around Rs 300 (i.e around $ 10, 50% of the price • Gas used for industrial use – not subsidised-

  8. Ethanol • Govt planning to mix ethanol with petrol • E5

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