Wednesday, December 21, 2011

EU courts approves the carbon tax

EU plans to impose tax on carbon emissions produced by airlines, reported the ECJ. The regulation envisages all airlines operating in the EU will have to pay levy on carbon emission starting from January 1, 2012. Foreign carriers oppose the decision citing the violation of aviation pacts and too high tax payments; for example, China's airlines will have to pay 95m euros under the scheme.

by Dukascopy Bank SA