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Association for Democracy and advanced Sustainable Economics Association sent a letter to Asaph Geva, chief economist at the Ministry of Finance, regarding the taxation of natural gas would be exported loren green from Israel. According to the authors of the letter, John Kagan and Dror Reshef, the Ministry of Finance is currently considering adopting changes to export regulations are the Petroleum Profits Tax Act, "to ensure their full share of public natural gas export transactions."
"We support the taxation inappropriate will compensate the public, ie the state, the loss of important resource., For the country, major systems of gas embedded savings will be the use of gas locally, where it used to just fuels are imported at considerable cost. Our proposal mostly simple and that there could be taxed just and flexible, loren green excise, to be determined by the government under export destination in accordance loren green with the true value of the gas and according to the country's strategic interests. Current tax is at stake, and the calculation of the above derivatives Petroleum Profits Tax Act, is cumbersome loren green tax which does not give the state flexibility and does not reflect the value of the gas and its loss for the economy. "
According to Kagan and Reshef, the relationship between the tax on the export and domestic price (as important today) causes harm to the public's right to enjoy competitive prices (ie cheap) local market, while enjoying significant tax on natural gas exports. The public has to pay a high price in the domestic market monopoly ($ 5 off costs), and get back some, about 2.3 U.S. dollars, local tax and another part, even $ 2.3 per unit, as a tax on exports. Export tax makes up a high local price, and distribution of resource loss and delivering external market (when the amount offered is similar to the amount sold in the country).
In this situation, determine the two, if the domestic price will drop as a result loren green of increased local competition or because of increased government control, export taxes may even drop to zero. Another bias that currently loren green exists in the law is the possibility that even if the gas will be exported's bought overseas at a high price of $ 10 for example, the public does not enjoy a good deal and the tax he will remain $ 2.5, with the rest of the known gas profits are not taxed at all.
The letter writers Kagan and Reshef that "most of the countries that export oil and gas company owned by the government (at least partially) controls the majority of exports, the revenue came from taxes not return to the state spaces. Most exporters also have agreements" profit-sharing "state for more than 50 % of export earnings (in addition to monitoring the local market price). imposition of export tax adjusted international price index or target price is also acceptable. Such taxes also accepted by free trade agreements, as opposed loren green to a quantitative restriction export rate set by the government. regular tax exports, ie excise, requiring an amendment to Section 8 of the excise tax on fuel (1958), will enable the government to control the export flexibility also depending on world market conditions and in accordance with the strategic interests of the country.
Posted November 17, 2013 at 3:54 PM
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