• Thu. Jan 27th, 2022

Energy: Italy meritocracy, to abolish VAT on excise duties against expensive gasoline

Byeditorial

Nov 27, 2021

“In this particular moment of necessary economic revival, after the period of serious crisis due to the pandemic, the excessive cost of the fuel pump can lead to significant problems, to be avoided by timely and effective government interventions”. Meritocrazia Italia says so in a note urging “the abolition of VAT on excise duties”. “Taxation is composed of excise duties (indirect taxes) and VAT (direct taxes). This is the largest part of the price that ends up in the public coffers (depending on the products from 60 to 65% of the price at the pump), and which is often used to quickly raise public funds “, he says again, recalling how taxation is linked to ancient voices, including the financing of the Ethiopian war of the years 1935/1936, the financing of the Suez crisis of 1956.” For this Meritocracy Italy urges a useful and immediate response from the Government to the surge in prices that slow down the recovery. One solution could be the abolition of the VAT on excise duties. € 0.160 for petrol and € 0.136 for diesel would cancel a tax on the unfair and unnecessarily vexatious tax “, concludes the statement.

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