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Denmark Proposed Changes in Indirect Taxes; Promotes Hydrogen or Electric Vehicles

The tax authorities of Denmark have proposed reforms to indirect taxes which are likely to take effect in 2013

 
 
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PRLog - Oct. 4, 2012 - (Sunnyvale, CA)- The tax authorities of Denmark have proposed reforms to indirect taxes which are likely to take effect in 2013. The draft law which is subject to the Parliament’s approval will also avoid erosion of tax base by providing for indexation of tonnage tax based on inflation and wages.

Proposed Indirect Tax Revisions: Increase in Taxes

* Vehicle road tax and fuel tax;
*Tax on Piped water;
*Health-related taxes (known as 'fat taxes' imposed on wine, beer, saturated fat, mineral water, etc.); and
*Various excise duties.

Proposed Indirect Tax Revision: Other Provisions

*To recompense for inflation, majority of indirect taxes would be raised by 1.8% annually till 2020, lone exemption is given to oil excise duties. However, from 2016 onwards, even oil excise duty would be adjusted by the real change in inflation.
*From 2013, majority of fat taxes i.e. health-related indirect taxes would increase through "discretionary increases" sharply by over 10%.
*The current exemption granted to hydrogen and electric vehicles from car registration tax and vehicle road tax would be extended till end of 2015.
*A 52% increase in the special "countervailing charge" would apply to diesel. This is intended to have the following effects:
*It is expected to reduce particle emissions from diesel cars;
*It is also expected to promote drivers into purchasing hydrogen or electric cars;
However, this provision exempts heavy and large vehicle like trucks, tractors and buses, as they do not have any option but using diesel.

For more information on this topic email media@nair-co.com
Get the latest press releases and updates on international tax, HR, Finance, compliance and other legal news at Nair & Co. Industry Alerts.

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Source:Nair & Co.
Country:United States
Industry:Business
Tags:PR, press release, Denmark Indirect Tax Revisions, Denmark Indirect Taxes, Denmark Increase
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