Press release
In a press release, the Comptroller General’s Office questioned the use being made of the resources collected from the national carbon tax (or CO2) and the tax on the consumption of plastic bags. The C02 tax is aimed at reducing greenhouse gas emissions produced by the consumption of fossil fuels and for the final consumer is reflected as an additional value in the price of fuels.
The regulation foresees that if a company is a consumer of a liquid fuel, natural gas or fuel oil, and develops programs to reduce consumption, it can obtain these carbon credits or Co2 reduction, which can be converted into money. Contact us and we will explain how. [button title=”Contact us” link=”https://efinetico.agilecrm.com/forms/5709436928655360″ new_tab=”no”]
The Comptroller considers that the destination that has been given to the resources is unfortunate.
In the case of the carbon tax – CO2, currently, with the so-called “Paramos Law” (Law 1930 of 2018), the monies collected are directed to the Colombia in Peace Fund, are budgeted in the section of the Ministry of Finance and Public Credit and only 30% is destined to environmental issues, while 70% is destined to the implementation of the Final Agreement signed between the National Government and the extinct FARC-EP. According to DIAN, at November 2018 the collection for this concept amounts to $294 billion pesos. Several studies have shown that demand for fuels is inelastic and therefore the increase in the final price generated by the CO2 tax will not necessarily result in a decrease in consumer demand. Consequently, the impact of the tax on the reduction of emissions-and their negative externalities-will tend to be low. The Comptroller also assessed the management and results obtained with the environmental tax incentives and determined that there is a high degree of uncertainty about their effectiveness. It also does not know the total value of the lower tax revenue it has as a result of this type of incentive, and quantifying it under current conditions is a very costly process. Get to know the press release…