In 2023, Belgium, Finland, and the United Kingdom led global tax expenditure related to fossil fuels, with values around 0.61-0.63% of GDP. Countries such as Greece, Lithuania, Italy, and Denmark saw a decline in expenditure, while France and Australia saw increases. In contrast, Brazil and Chile experienced significant reductions in expenditure due to policy shifts. Ukraine showed a notable increase, signaling a shift in fiscal strategy.
Future trends to watch include potential increases in tax expenditure triggered by global shifts towards sustainable energy, policy reforms, and geopolitical factors like energy security. Countries may adjust fiscal policies to align with carbon reduction goals.
Top countries in Tax Expenditure on All Fossil Fuels for All Beneficiaries or Sectors by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Belgium | 0.63 | 2023 | +1.46% | +1.12% | View data |
| 2 | 2 Finland | 0.61 | 2023 | +0.49% | +0.5% | View data |
| 3 | 3 United Kingdom | 0.61 | 2023 | +0.5% | +4.94% | View data |
| 4 | 4 Greece | 0.52 | 2023 | -1.14% | -3.98% | View data |
| 5 | 5 Australia | 0.51 | 2023 | +3.87% | +2.58% | View data |
| 6 | 6 Lithuania | 0.46 | 2023 | -1.9% | -2.33% | View data |
| 7 | 7 Italy | 0.42 | 2023 | -0.71% | -1.06% | View data |
| 8 | 8 Denmark | 0.41 | 2023 | 0% | +2.38% | View data |
| 9 | 9 France | 0.39 | 2023 | +3.73% | +3.34% | View data |
| 10 | 10 Switzerland | 0.36 | 2023 | +10.06% | +1.03% | View data |
