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Fuel Tax

All articles tagged with #fuel tax

politics2 years ago

"French Prime Minister Faces Mounting Pressure as Farmers Protest in Paris"

French Prime Minister Gabriel Attal visited a cattle farm in the Haute-Garonne region to address farmers' protests, promising to prioritize the agricultural sector and dropping plans to reduce a key agricultural tax break. The government also announced measures to address rising diesel fuel costs, an emergency fund for cattle farmers, and simplifying administrative tasks for farmers. The protests, which included roadblocks and tractor convoys, were sparked by discontent over fuel hikes, green regulations, and EU directives, with farmers demanding concrete actions from the government.

via FRANCE 24 English|
#agricultural-sector#farmers-protests#french-prime-minister
economy2 years ago

Turkey Implements 200% Fuel Tax Hike to Address Budget Deficit and Earthquake Damages

Turkey has raised its special consumption tax on fuels by 200%, resulting in a 21% increase in gasoline and diesel prices. The move aims to raise budget revenues after significant spending on earthquake rebuilding and the recent presidential elections. Turkey's public finances have deteriorated due to higher energy import prices and the cost of rebuilding areas affected by the earthquake. The country has been grappling with financial challenges, including double-digit inflation rates. The fuel tax increase, along with the value-added tax, will further contribute to inflation.

via OilPrice.com|
#budget-deficit#economy#fuel-tax
economy2 years ago

"Turkey's Fuel Tax Hike Boosts Strained Budget"

Turkey has increased the tax on petrol to help fund a significant increase to its 2023 budget, which has been stretched due to increased spending after earthquakes and the presidential election. The budget deficit has risen to 263.6 billion lira in the first five months of the year, and the additional fuel tax aims to address this. However, the tax increase could also contribute to inflation, which had previously declined. The tax adjustments are expected to raise pump prices by over 20%. Turkey has been implementing various tax increases to strengthen its government coffers, as the country's currency has significantly depreciated, leading to higher import prices.

via Reuters|
#budget-deficit#economy#fuel-tax