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    Emission trading schemes: potential revenue effects, compliance costs and overall tax policy issues

    Access Status
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    Authors
    Pope, Jeffrey
    Owen, Anthony David
    Date
    2009
    Type
    Journal Article
    
    Metadata
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    Citation
    Pope, Jeffrey and Owen, Anthony David. 2009. Emission trading schemes: potential revenue effects, compliance costs and overall tax policy issues. Energy Policy. 37 (11): p.p. 4595-4603.
    Source Title
    Energy Policy
    DOI
    10.1016/j.enpol.2009.06.014
    ISSN
    03014215
    Faculty
    Curtin Business School
    School of Economics and Finance
    Remarks

    The link to the journal's home page is: http://www.elsevier.com/wps/find/journaldescription.cws_home/30414/description#description

    Copyright © 2009 Elsevier B.V. All rights reserved.

    URI
    http://hdl.handle.net/20.500.11937/13702
    Collection
    • Curtin Research Publications
    Abstract

    The case for the imposition of carbon (emission) taxes or tradable carbon permits in important tax jurisdictions is arguably strong, based upon the polluter pays principle first proposed by Pigou almost a century ago. This paper briefly reviews the arguments for and against these market-based instruments, and discusses their relative advantages and disadvantages in a practical context. In the case of Australia, the revenue effect of the proposed tradable carbon permits scheme is estimated to be A$11.5 billion in 2010-11. For comparison, this is roughly equivalent to a quarter of the revenue from the Goods and Services Tax. The paper focuses on three neglected aspects of climate change taxation discussion to date: how much tax revenue is likely to be raised, and the administrative and compliance costs of an emissions trading scheme, with particular reference to Australia. In discussing these issues, the paper draws upon selected and relevant international experience, particularly the European Union emissions trading scheme. The challenges of an emissions trading scheme, including integration with the existing tax system, particularly in an Australian context, are also discussed. The paper concludes by emphasising the key challenges and issues facing this 'ultimate externality' debate, particularly from a taxation policy perspective.

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