Biofuel energy producers are to be exempted from the environmental tax on emissions
The Verkhovna Rada has adopted in the first reading the European integration bill No. 9596, which provides for the introduction of a zero tax on CO2 emissions for biofuel plants.
This was announced by Danylo Hetmantsev, MP from the Servant of the People faction and chairman of the Verkhovna Rada Committee on Finance, Taxation and Customs Policy.
The parliamentarian clarified that the draft law provides for amendments to the Tax Code of Ukraine to establish a rate of zero hryvnias of environmental tax for carbon dioxide emissions for installations that produce such emissions as a result of biofuel combustion.
"The draft law was developed to apply in Ukraine the established global practice of developing the use of biofuels for energy production and stimulating the transition of enterprises from fossil fuels (coal, gas, peat) to biofuels, which are more environmentally friendly than traditional energy sources," the MP said.
Danylo Hetmantsev also noted that the adoption of the draft law is a recommendation of the European Commission, will increase the use of biofuels as an alternative energy source and reduce air pollution, and will stimulate the development of the biofuel industry in Ukraine.
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