New tax on CO2 emissions

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Italy has introduced a new national tax on carbon dioxide emissions along with an ecological tax reform. The taxes, which will increase annually from 1999 to 2004, are intended to help the country meet its commitments under the Kyoto protocol on climate change, reports environmental news service ENDS Daily. By 2005, taxes on coal will increase by 42%, while heating oil tax will rise by 52% for domestic users and 61% for industry. Taxes on petrol, diesel and natural gas will also rise. Over half of the expected revenues of EURO 1.13 billion raised in the program's first year will be spent on reducing charges as employers take on new staff in Italy's poorer south.

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