The importance of addressing plastic pollution has expanded to a global, regional, and national extent. In a consequential move, 175 United Nations (UN) member states, during the fifth session of the UN Environment Assembly on 2 March 2022, resolved to work about an international agreement by the close of 2024. Purpose of countering plastic waste and pollution, this prospective “plastic treaty” – championed by outstanding plastic producers like the United States and China – will focus on plastic’s entire lifecycle: from production and design to disposal, with the mission of minimizing plastic waste.
Europe's Answer to Plastic Waste
Europe, with its intense awareness of plastic waste challenges, has been proactive in its policy response. The European Union (EU) begun a unique “plastic levy” effective from 1 January 2021. Based on non-recycled plastic packaging waste, this duty is to reduce its excessive spread, while at the same time supporting the 2021-2027 EU budget, specifically considering fierce COVID-19 related disbursements.
Each EU member state’s levy is calculated by applying a rate of EUR 0.80 per kilogram to the weight of non-recycled plastic packaging waste. To financialization these payments, while some states utilize their national budgets, others are either introducing fresh taxations or growing existing ones on plastic products. Moreover, several non-EU European nations are innovatively conflicting plastic product usage, struggle for reduced plastic waste and the acceptance of a circular economic model.
Plastic Taxation in the EU:
Navigating Diverse Financing Methods
EU Member States have diverse strategies for financing the EU Plastic Levy:
RTC Suite: Navigating Plastic Tax Reporting with Precision
What is Plastic Tax?
How Does Plastic Tax Work?
Who Pays the Plastic Packaging Tax?
Plastic Packaging Tax Reporting Requirements
Why is the Plastic Tax being implemented in the U.K.?
Who is subject to pay according to the new plastic tax?
Who will be obligated for the Plastic Packaging Tax?
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