The Treasury lowers the VAT on electricity with one hand while collecting two hands with CO2

The reduction of the VAT on electricity to certain consumers and the suspension of the tax on electricity generation will only mean a small impairment to the public coffers of just over a billion euros at the end of the year. But at the same time, it will enter about 1.2 billion euros more just from the auctions of CO2 emission rights. Estimates suggest that the Government will collect some 2,650 million euros more in electricity taxes in 2020, according to sources in the sector consulted. The Council of Ministers will approve tomorrow, in an extraordinary meeting, the reduction of VAT on electricity from 21% to 10% for consumers with a contracted power of up to 10 kW … See More

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