Tax Examples: Carbon-Specific Taxes in Asia

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India currently implements a carbon tax of 50 rupees ($1.07) per metric ton of coal that is produced or imported into India. The tax was implemented in July 2010, and is expected to raise 25 million rupees ($535 million) in the financial year 2010-2011. The tax is one component of a series of policies aiming to help India achieve its voluntary target to reduce greenhouse gas emissions  (per unit of GDP) by 25% from 2005 levels by 2020.

No other Asia countries have implemented a carbon tax, though several have proposed carbon tax legislation. In 2005, Japan proposed a tax on the carbon content of fossil fuels equal to 2,400 yen ($24.85 in 2005 dollars), which was eventually defeated. South Korean lawmakers are considering carbon tax legislation that would operate in conjunction with a cap-and-trade program. The proposed tax rate is 31,828 won ($31.61). Taiwan is also currently considering a carbon tax proposal. Debate centers on how the tax will affect the shrinking Taiwanese economy.