On Jun. 4, DEN Tax informed of bills' adoption re CO2 taxation.
DEN Tax said that DEN PRL adopted 2 bills re a CO2 tax for all industrial companies.
Main Points
The bills implement parts of the agreement on green tax reform for industry of 2022.
The new emissions tax and the reorganization of the current CO2 tax mean that the tax level on CO2 emissions in 2030 amounts to DKK 750 per tonne of emitted CO2.
For companies outside the EU's quota trading system and DKK 375 per tonne of emitted CO2 for companies within; deductions are possible for CO2 captured, stored.
Effectiveness
The legislation will enter into force on Jan. 1, 2025.
Jun. 8, 2024 Bills Published
On Jun. 8, 2024, DEN PRL published adopted bills L182 and L183 on CO2 tax.
Bill L182 on taxation of CO2 emissions from quota-covered sectors co-processed with bill L183 on implementation of parts of agreement on green tax reform for industry.
L182 enters into force on Jan. 1, 2025, however the Minister of Taxation determines the time of entry into force of section 2, subsection 3-6, and § 6, subsection 5 and 6.
L183 is in force day after announcement in the Lovtidende, subject to the following.
S. 8 enters into force on Dec. 31, 2024; Sections 1-6 enter into force on Jan. 1, 2025.
Minister of Taxation sets the time for the entry into force of S 1, no. 2, 3, 6, 7 and 10.
Minister can put the provisions into effect at different times.
S. 6 has effect for tax periods on Jan. 1, 2025 or later, however, as far as taxpayer's or those entitled to reimbursement request for resumption of tax liability/reimbursement of tax are concerned, S 6 also has effect for tax periods beginning before Jan. 1, 2025.
