The Excise Duty on Natural Gas when used as Feedstock
The Excise Duty on Natural Gas when used as Feedstock
SUBJECT: Natural Gas; Greece; excise duty; feedstock
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EDITION: 2017

TYPE: PDF

PAGES: 57

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The Excise Duty on Natural Gas when used as Feedstock
SUBJECT: Natural Gas; Greece; excise duty; feedstock
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Members: 10%
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Students: 20%

Unexpectedly, even though natural gas is broadly considered as the most environmentally friendly product, the excise duty related to feedstock appliances remains until today. The imposition of excise duty merely on natural gas when used as feedstock acts counter to the nature and logic of the tax system, both at EU and national level. Undeniably, this imposition negatively affects economic activity and competitiveness of products that use natural gas as raw material. 

The abolition of excise duty when natural gas is used as a feedstock is indicated by the Directive 2003/96/EC. Hence, based on the relevant Community Law, the abolition of excise duty charges for industrial purposes as feedstock will directly reduce production costs and at the same time have a beneficial impact on business competitiveness. Eventually, a potential abolition considering the industrial application would be significantly beneficial in terms of broader economic activity. Above all, a key policy tool that is directly relevant to the reduction of natural gas prices is the complete abolishment of excise duty rate when used as feedstock. 

Nowadays, the Greek economy is in a steady phase towards growth, hence there is an urgent need to smooth out any obstacle that prevents the quick recovery of the economy. Strengthening the role of industries is a key prerequisite in order to achieve the aforementioned goal. Reduced cost of production is anticipated to trigger a direct outcome of providing lower cost products, that eventually could increase domestic demand and in parallel be accompanied by positive externalities in the overall Greek economy.

 

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