Hungary sets new taxes for facilities emitting more than 10 ktCO2/year
The government of Hungary has unveiled new taxes on medium and large polluting facilities, including oil refineries, chemical factories and some thermal power plants and district heating companies. The new taxes apply to polluters covered by the EU ETS system, who emit more than 10 ktCO2/year and receive a significant amount of free allocation. Two new taxes will be implemented: a CO2 quota tax set at €40/tCO2 and a 10% transaction fee payable on transfers of allowances allocated free of charge. In addition, producers of cement, glass, ceramics, fertilisers, steel, brick factories, large emitters in sugar and spirits will also be subject to these new taxes. In total, the new taxes will involve around 45 facilities in Hungary.
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