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[en] The Norwegian petroleum tax system builds on the general business tax system. A reform of the petroleum tax system was therefore prompted by the reform of the ordinary company tax system in Norway. The reform of the general company taxation system made a reform of the petroleum taxation system necessary. As the petroleum tax system had to be changed, it was natural to review the incentive structure of the system to see if it could be improved. These two elements formed the foundation of the work on petroleum tax reform. (Author)
[en] The federal government offers a number of tax incentives to developers of biomass projects. This paper describes each tax benefit, explains what conditions must be met before the benefit is available, and offers practical insights gained from working for over 10 years in the field. Understanding what tax benefits are available is important because the more tax benefits a developer can qualify for in connection with his project, the less expensive the project will be to build and operate and the easier it will be to arrange financing because there will be higher returns in the project for potential investors
[en] About the measures advocated by the High Committee of public health are: to lower the current values of 400 Bq.m3 and 1000 Bq.m3 to an unique value of 300 Bq.m3 for existing buildings and areas open to public. Interventions should be practised as emergency for areas where the rates are over 1000 Bq.m3; It advocates to consider this value of 300 Bq.m3 as a step towards a long term objective of 100 Bq.m3; For new housing it advocates to define a target under 300 Bq.m3; to extend the policy of radon risk management to overseas departments; to include financial incentives to carry out work; in any transaction, must be made obligatory risk information, carried out measurements; to provide traceability of these measurements by the creation of a national database. (N.C.)
[en] While the potential adverse effects of fossil fuel subsidy reform are well documented for households, the literature has largely ignored the effect of subsidy reform on firms’ competitiveness. This paper discusses how firms are affected by, and respond to, energy price increases caused by subsidy reforms. It highlights that cost increases (both direct and indirect) do not necessarily reflect competitiveness losses, since firms have various ways to mitigate and pass on price shocks. This paper presents and discusses direct and indirect transmission channels for price shocks, and firms’ response measures: absorbing cost shocks into profits, inter-fuel substitution, increasing energy and material efficiency, and passing on price increases. It argues that further micro-econometric studies using enterprise surveys are essential for quantifying the role of these mechanisms, and for designing policy measures that ensure that competitiveness losses due to subsidy reforms are minimised. - Highlights: • Concerns about competitiveness can be a key political obstacle to subsidy reform. • Net impacts are determined by (in-)direct price shocks, and four response measures. • Policy makers need to understand impacts on firms to design effective reforms. • Enterprise surveys are key for understanding and quantifying impacts on firms.
[en] Subsidies are between 40,05 DM/t.c.e. and 11,59 DM/t.c.e. for volatile matter concentrations between 5 and 15%. (orig./HP)
[de]Die Zuschuesse betragen 40,05 bis 11,59 DM/tSKE fuer fluessige Bestandteile von 5 bis 15%. (orig./HP)
[en] This article assesses the impact of recent tax exemption legislation as a vehicle for the attraction of investment in the quest for the development of international energy in Nigeria, particularly oil and gas. It seeks to argue that generous tax incentives are the most successful method of inducement of foreign investors, judging from the rising profile in the expansion of investment in the gas sector and the attendant increase in world trade. It attempts to assert that tax incentives alone, without the combination of other favourable factors, like political stability, observance of the rule of law and deregulation or trade liberalisation, cannot produce the desired result of local industrialisation and integration into the world economy. (author)
[en] Specific financing techniques applicable to wind energy projects in Canada are discussed. A limited partnership is the classic Canadian approach to tax-advantaged financing. For a typical wind project, the limited partners would get an internal rate of return of around 8% over 20 years as well as income tax deductions on Class 34 investments. This rate can be improved if the investors borrow some of the money; they get tax-free cash flow while having deductible loan interest, raising their rate of return after taxes to ca 9-10%. Special situation investors can get to take all of the Class 34 deduction right away, raising their return up to the 12% range. These investors include principal business corporations (such as utilities or oil companies), or companies who have sold their business. A second type of financing structure is related to inflation-indexed debt. The loan is structured like a mortgage, with the annual payments indexed to inflation but nevertheless low enough to provide an early positive cash flow from the project. Other possible financing structures are the immigrant investor fund and the provincial incentive corporations
[en] This study offers Organization of Petroleum Exporting Countries (OPEC) member nations a crude oil pricing currency basket based on currency liquidity, in contrast with prior emphasis on OPEC trading patterns. Motivating the search for an alternative US dollar pricing of crude oil is the significant and inverse relationship (r=-0.82, p<0.01) between the US dollar major currencies index and crude oil price over the period January 1999-March 2009. A dynamically weighted petro-dollar currency basket is proposed based on the five currency claims (US dollar, Euro, British pound, Japanese yen and Swiss franc) and their varying proportions of foreign exchange reserves held by central banks. The major currencies US dollar index is compared against the proposed petro-dollar index to reveal an average US$8.1 billion annual gain in favor of the petro-dollar currency basket, offering OPEC members a revenue stream of diversified and highly liquid currencies to transition away from complete dependence on the US dollar crude oil pricing. The proposed petro-dollar crude oil pricing schema offers OPEC a crude oil price dynamically denominated in currencies reflecting the global use and importance of crude oil. This paper concludes with implementation issues facing a move toward the dynamically weighted petro-dollar crude oil pricing schema.
[en] Historically, the use of biomass as an energy source has been subsidized by generous tax incentives. These tax incentives took the form of tax-exempt financing, the energy tax credit, the investment tax credit, and short depreciation lives. Common with tax incentives in other areas, the tax incentives for biomass projects have been curtailed in recent years. Given the appetite of Congress for revenue, it is not likely that the recent trend will reverse. If changes do occur, they are likely to involve liberalization of some oof the rules for tax-exempt debt. But even under current law, there are still tax advantages available for biomass energy projects, of which potential developers should be aware
[en] A compilation is presented of the early retirement plans of Canadian electric utilities. A table summarizes the qualifying factors for the plan and comments on various aspects of the plan (e.g. eligibility, benefits available) for each reporting utility. The utilities whose plans are provided include Alberta Power, British Columbia Hydro, Edmonton Power, Manitoba Hydro, Nova Scotia Power, Ontario Hydro, Saskpower, and TransAlta Utilities, plus the Ontario municipal utilities of Mississauga, North York, Toronto, and Scarborough