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When taxes are introduced on carbon and energy, and the revenue is used to reduce other taxes, will a positive effect be achieved both for the environment and for the economy? In 1990 Finland was the first country to introduce a tax on CO2. Later, Sweden, Denmark, Netherlands, Slovenia, Germany and the UK followed suit with tax reforms that shifted taxation from labour to carbon and energy. Over the years, CO2 and energy taxes have gradually been raised, so that in Europe taxes of more than 25 billion Euros a year have been shifted. This book examines carbon-energy taxation in detail and looks at tax shifting programmes for lowering other taxes. It offers extensive analysis on the basis of historical data and seeks to answer important questions for policy-making, such as: What was the impact of tax shifting for economic performance and competitiveness? By how much were emissions of CO2 reduced? Could energy-intensive industries cut further down on their fuel demand or did they loose market shares? To what extent was there 'leakage' from Europe, so that production and CO2 emissions were shifted to other countries or regions without CO2-abatement policy? The use of unique and original data, including sector-specific energy prices and taxes, as well as the use of advanced statistical techniques, such as co-integration analysis and panel-regression techniques along with the time-series estimated macro-economic model E3ME, make this a truly comprehensive volume. On the basis of the lessons learned in Europe, this volume indicates how carbon-energy taxation could usefully be combined with emissions trading, and discusses implications for future international climate policy, including how the IPCC recommendations for a gradual escalation in carbon price could be accomplished while preventing carbon leakage.
This book provides clear guidance on what constitutes State Aid in the area of tax law. It clearly explains the situations in which beneficial tax provisions for the taxpayer – e.g., lower tax rates for certain industries or for certain economic zones, advantageous depreciation rules, or exemptions – can be declared void by the European Commission. The difficult controlling concept of ‘selectivity’ of an aid is dealt with extensively. Drawing on familiarity with the practice of the Commission, as well as the jurisprudence of the General Court and of the Court of Justice, thirteen knowledgeable contributors present valuable arguments in case the Commission requires the repayment of advantages received. Among the topics and issues covered are the following: how unregulated tax incentive competition between States leads to a ‘win’ by one State and a ‘loss’ by another; the legal uncertainty attached to the Commission’s decision following notification of a proposed tax incentive; the role of the Commission’s Code of Conduct; calculating the amount of recovery of illegal State Aid; application of State Aid rules in the area of indirect taxation (e.g., VAT and excise duties); investment fund regimes; subnational regional aid; ‘patent box’ regimes; foreign source income; and taxpayers’ exclusion from infringement proceedings and subsequent appeals. Complete with case studies and analyses of the latest case law on selectivity, this invaluable resource will be welcomed by practitioners who, although they may be well-versed in tax law, are sure to benefit greatly from the authors’ expert guidance on State Aid provisions and the rules on harmful tax competition.
The rules controlling State aid and subsidies on the EU and the WTO level touch nearly every aspect of national law. Written by a team of experts from the judiciary, practice, academia, and officials, this book provides a thorough and analytic approach to this vital area of law.
An invaluable resource to all those involved in advising or litigating matters of state aid, from lawmakers to regulators, lawyers, economists and courts. This fully revised 4th edition presents detailed practical guidance to the law and practice in the European Union as it stands today, together with the relevant primary law materials
The world is currently undergoing an historic energy transition, driven by increasingly stringent decarbonisation policies and rapid advances in low-carbon technologies. The large-scale shift to low-carbon energy is disrupting the global energy system, impacting whole economies, and changing the political dynamics within and between countries. This open access book, written by leading energy scholars, examines the economic and geopolitical implications of the global energy transition, from both regional and thematic perspectives. The first part of the book addresses the geopolitical implications in the world’s main energy-producing and energy-consuming regions, while the second presents in-depth case studies on selected issues, ranging from the geopolitics of renewable energy, to the mineral foundations of the global energy transformation, to governance issues in connection with the changing global energy order. Given its scope, the book will appeal to researchers in energy, climate change and international relations, as well as to professionals working in the energy industry.
Europe’s energy State aid guidelines no longer reflect the market reality and need to be carefully revised. This study looks at the existing rules and provides recommendations for the revised guidelines to effectively contribute to accelerating the decarbonisation of Europe’s economy. It calls on the European Commission to pursue a combined approach that looks at reinforcing both common objectives and specific State aid measures. Since the approval of the latest Guidelines for State Aid for Energy and Environmental Protection (EEAG) in 2014, the EU institutions have agreed to accelerate the decarbonisation process to reach a climate-neutral economy by 2050. This strong impetus heavily influences the energy market where we see new economic models and types of actors emerging, and where there has been significant technological progress over the past years. The energy and environmental protection State aid guidelines no longer reflect the market’s reality and need to be revised carefully. As Brussels is about to kick off the revision of the EEAG, this report provides recommendations for new rules that effectively contribute to fast-tracking the transition towards low carbon energy systems in a cost-efficient way. Above all, Brussels should align the new rules with its 2030 climate and energy transition targets. “The EEAG reform should combine approaches that look both at common objectives and specific aid measures. This requires a significant evolution of the current regime whilst ensuring smooth continuity. Defining clear criteria to assess the contribution of a specific State aid measure to the ‘common interest’ is of utmost importance. The revised EEAG should strengthen these assessment criteria, including for specific aid measures. They must promote technology neutrality and consider the energy system’s resilience. Among the assessment criteria, the application of the proportionality test should be improved.” - Catherine Banet, author of the report The Guidelines are part of a bigger ecosystem of rules. The EEAG work in close interaction with the general block exemption Regulation (GBER) which allows the Commission to exempt prior State aid notification – and approval – in specific cases. This has proven to be efficient and should be maintained. If, during the review, a different approach is chosen, it may impact the entire architecture of the hard and soft law ecosystem of the EU state aid regime. The Clean Energy Package for All Europeans is a driver of the reflection behind the revision of the Guidelines. The scope of application of the EEAG should reflect and build upon the provisions laid down in this package. At the same time, the new Guidelines have the challenging task of anticipating the impacts of moving climate targets from the European Green Deal and the upcoming rules to achieve them, such as the revised renewable energy directive, the revised alternative fuels infrastructure directive, the implementation of the sector integration strategy and the Hydrogen strategy. Finally, enforcing the rules is just as important as setting the right rules. The report notes that, on several occasions in its recent case law, the Court of Justice of the EU has reversed some of the European Commission’s approval decisions, with major impacts on markets. The revised Guidelines should be set and applied so as to eliminate the risk of reversals of the Commission’s decisions as much as possible. “The COVID-19 crisis is just one example of the deep uncertainties and changes our society is going through. Europe should be prepared for more disruption. We need to build a more resilient energy system that can cope with such unexpected external shocks. The energy state aid Guidelines should be an integral part of a long term sustainable recovery roadmap.” - Catherine Banet, author of the report.
Competition authorities are increasingly interested in understanding the impact of their activities on markets and consumers. The goal is to improve competition policy rules and decision-making practices and to get robust evidence on the benefits of competition and competition policy for society as a whole. Discussions with competition authorities, practitioners and academics have shown the need to take stock of the experience gained in this field by the European Commission and to present it in an easily accessible way. The studies collected in this volume – prepared by senior Commission officials and competition policy experts – range from the ex post evaluation of specific policy interventions to the assessment of the broader impact of competition policy. The issues and topics examined include the following: objectives and scope of evaluations by the European Commission; description of counterfactual evaluation techniques used; conditions for a successful ex post evaluation of a competition policy intervention; a wide selection of individual cases covering a variety of economic sectors; applications in merger control, antitrust and State aid; direct benefits of competition policy interventions for consumers; deterrent effects of such interventions on market participants; and macroeconomic outcomes in terms of job creation, productivity and GDP growth. This matchless book assembles within a single volume all that is needed for competition policy analysts and practitioners to undertake ex post economic evaluations. While its collection of state-of-the-art ex post evaluation studies has a clear value for competition authorities, it is sure to be welcomed as well by competition law practitioners in the private sector, who will greatly appreciate the effort made to cast a critical eye on decisions taken in the past. Moreover, it allows for addressing some of the new challenges facing competition policymakers. Fabienne Ilzkovitz is Principal Advisor responsible for the economic evaluation of competition policy within the Directorate-General for Competition of the European Commission, and since 2014, she has coordinated various ex post evaluation projects in the Directorate-General. She is also Associate Professor of Economics in the Solvay Brussels School of Economics and Management at the Université Libre de Bruxelles, Belgium. Adriaan Dierx is Senior Expert on ex post economic evaluation within the Directorate-General for Competition of the European Commission. He has managed a number of studies aimed at assessing the economic impact of the European Commission’s competition policy interventions.
A uniquely important contribution to the debate on EC State aid, this book captures the direct knowledge and experience of twenty-six current and former Commission State aid litigators, offering detailed 'insider' analysis of EC State aid court cases, as well as related internal legal issues, between 1994 and 2008. The book brings together both legal and economic analysis, with detailed reflections on aspects of both substantive legal rules and procedural law. It also offers, over and above the specific interest of the contributions it contains, invaluable insights into the working methods of the Commission Legal Service. This collaborative work was conceived and realized by its authors as a mark of recognition, and a gesture of respect and friendship, for Francisco Santaolalla, on the occasion of his retirement from the Commission after fourteen years' service as Director of the State aid team. Among the many legal and economic forces affecting State aid litigation, the authors focus on such factors as the following:A {exports;A {private investment;A {role of economic analysis;A {ecotaxes;A {privatization;A {remedies;A {existing aid;A {third parties;A {actions against State aid decisions;A {national court decisions;A {fiscal discipline; andA {WTO subsidies law. In illuminating the underlying issues, and describing how they are handled by the Commission Legal Service, the authors shed light on the likely future development of State aid law. The book will be of particular interest to antitrust practitioners as well as academics
The book describes the difficulties of the current international corporate income tax system. It starts by describing its origins and how changes, such as the development of multinational enterprises and digitalization have created fundamental problems, not foreseen at its inception. These include tax competition—as governments try to attract tax bases through low tax rates or incentives, and profit shifting, as companies avoid tax by reporting profits in jurisdictions with lower tax rates. The book then discusses solutions, including both evolutionary changes to the current system and fundamental reform options. It covers both reform efforts already under way, for example under the Inclusive Framework at the OECD, and potential radical reform ideas developed by academics.
The fourth edition of Conor Quigley's highly acclaimed book provides lawyers, regulators and public officials with a definitive statement of the law and practice of State Aid. The book places State Aid law and policy in its economic, commercial and industrial context, exploring the concept of State Aid and its function as a tool of EU law. All of this is achieved by a thorough examination of the jurisprudence of the European Courts and the decisions, legislation and guidelines of the Commission in declaring aid compatible or incompatible with the internal market. The fourth edition includes new chapters on: - COVID-19 and Ukraine emergency measures - Brexit - EU foreign subsidy regulation - UK Subsidies Control and updated guidelines and block exemption regulations on: - Regional aid - R&D&I - Environmental protection and climate change