Related topics: carbon emissions

How carbon taxes can succeed

The political leeway for carbon taxes is greater than commonly assumed. Political scientists at ETH have shown how carbon taxes could find acceptance in Germany and the U.S.. What matters most is the intended use of the tax ...

To save climate, tax carbon at $75 per ton: IMF

The world's biggest carbon polluting nations should jointly agree to tax emissions at $75 per ton in the next decade to keep climate change at safe levels, the International Monetary Fund said Thursday.

Total loses bid for palm oil tax break

France's constitutional court rejected on Friday a bid by oil firm Total to secure a tax break for using controversial palm oil to create biofuel.

Germany planning climate action worth over 100 bn euros

German Chancellor Angela Merkel's coalition government plans to commit at least 100 billion euros ($110 billion) on climate protection by 2030, according to a draft policy paper being discussed on Thursday.

Tax

To tax (from the latin taxare: to estimate, which in turn is from tangere: to touch) is to impose a financial charge or other levy upon a taxpayer (an individual or legal entity) by a state or the functional equivalent of a state.

Taxes are also imposed by many subnational entities. Taxes consist of direct tax or indirect tax, and may be paid in money or as its labour equivalent (often but not always unpaid). A tax may be defined as a "pecuniary burden laid upon individuals or property to support the government […] a payment exacted by legislative authority." A tax "is not a voluntary payment or donation, but an enforced contribution, exacted pursuant to legislative authority" and is "any contribution imposed by government […] whether under the name of toll, tribute, tallage, gabel, impost, duty, custom, excise, subsidy, aid, supply, or other name."

In modern taxation systems, taxes are levied in money, but in-kind and corvée taxation are characteristic of traditional or pre-capitalist states and their functional equivalents. The method of taxation and the government expenditure of taxes raised is often highly debated in politics and economics. Tax collection is performed by a government agency such as Canada Revenue Agency, the Internal Revenue Service (IRS) in the United States, or Her Majesty's Revenue and Customs (HMRC) in the UK. When taxes are not fully paid, civil penalties (such as fines or forfeiture) or criminal penalties (such as incarceration) may be imposed on the non-paying entity or individual.

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