Environmental tax

Tax Glossary Definition

Environmental tax

An environmental tax is a fiscal charge or levy imposed on activities, goods, or services that adversely affect the environment, such as those contributing to pollution, carbon emissions, or natural resource depletion. Its primary objective is to internalize the external costs of environmental damage by reflecting them in market prices, thereby encouraging businesses and individuals to adopt sustainable and eco-friendly practices.

Example: A government may introduce a carbon tax on industries that emit greenhouse gases to reduce pollution and promote cleaner production methods.

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