1 / 9

Fossil Fuel and Renewable Energy Workshop

Join us at the May 2014 workshop to explore taxes on fossil fuels, including excise duty and MID levy, for revenue raising and funding environmental programs. Discover the evolution of rates, issues with aviation spirit, and the impact of MID levy on making projects competitive. Learn if MID levy functions as a carbon tax.

uri
Download Presentation

Fossil Fuel and Renewable Energy Workshop

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  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

More Related