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Executive Jets To Escape Aviation Tax?

Private-owned jets may escape the new tax aimed at aviation, which aims to tax polluting air vehicles. 

This is according to the draft proposals to be presented by the European Commission on Wednesday.

Aviation is one of the fastest-growing sources of the greenhouse gas emissions driving global climate change. In fact, if the entire aviation sector were a country, it would be one of the top 10 carbon-polluting nations on the planet. 

Read more: Tax Increase for Small Businesses: Around $1.75 trillion!The commission’s move is part of an overhaul of EU energy taxation to meet a target to reduce EU greenhouse gas emissions by 55 per cent from 1990 levels by 2030.

The levy on aviation fuel is part of a package of measures that will be unveiled on Wednesday.

The commission declined to comment on the draft proposal, which could change before publication. The draft proposal would also introduce minimum tax rates on polluting fuels used for waterborne navigation, fishing and freight transport within the EU.

Read more: Trump Seeks Attorneys Assistance To Stop IRS from Handling his Tax Returns

According to Environmental Protection UK, aircraft engines produce a lot of pollution because they generally combust fuel efficiently, and jet exhausts have very low smoke emissions.

However, pollutant emissions from aircraft at ground level are increasing with aircraft movements. In addition, a large amount of air pollution around airports is also generated by surface traffic.

Read more: Biden Plans to Tax 700 Wealthiest People in the U.S.!

Cost-competitive, environmentally sustainable aviation fuels (SAFs) are recognized as a critical part of decoupling carbon growth from market growth.

Renewable and wasted carbon can provide a path to low-cost, clean-burning, and low-soot-producing jet fuel.

For the first six months of 2021 global business aviation activity fell only 4 per cent short of the first half of 2019, and was 42 per cent up on the first half of 2020.

By comparison, scheduled airline activity was still 45 per cent behind 2019 levels over the same period, WingX said.

Read more:  What is Wealth Tax & Should You Be Worried About it?

Now, the number of flights in June was 2 per cent higher than in 2019, with the figure for the last week of the month and the first week of July 6 per cent ahead of the 2019 equivalent.

Executive jet travel accounts for just under 19 per cent of all aviation, according to the consultants, while cargo traffic accounts for just 4.7 per cent of flights.

Stay updated with more news here with us at the East County Gazette. 

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