India and France lead in global tax expenditure on petroleum for consumers, with India showing significant growth at an 8.32% year-on-year increase in 2023. The UK has a 7.44% increase, and China follows with 6.11%, indicating growing tax approaches. The USA, Germany, and Spain report declines. Russia shows a notable surge of 14.99%. Ukraine's expenditure skyrocketed by 106.43%, while South Korea, Spain, Chile, and Greece experienced substantial decreases. The last five years indicate varying CAGRs across these regions, with notable upward momentum in countries like India and France.
Future trends to watch include potential increases in tax expenditure among emerging economies like India and China. Potential market shifts due to geopolitical factors affecting petroleum distribution and consumption could alter tax strategies worldwide. Transition towards renewable energy may influence long-term petroleum tax policies.
Top countries in Tax Expenditure on Petroleum for Consumers Share by Country (Million US Dollars, Constant = 2020)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 India | 13.32 | 2023 | +6.58% | +8.32% | View data |
| 2 | 2 France | 12.34 | 2023 | +4.7% | +4.07% | View data |
| 3 | 3 Italy | 11.45 | 2023 | +2.89% | +1.97% | View data |
| 4 | 4 United Kingdom | 11.06 | 2023 | +9.54% | +7.44% | View data |
| 5 | 5 China | 9.54 | 2023 | +6.1% | +6.11% | View data |
| 6 | 6 Australia | 6.45 | 2023 | +4.38% | +2.84% | View data |
| 7 | 7 South Africa | 3.52 | 2023 | +6.82% | +2.52% | View data |
| 8 | 8 Switzerland | 3.44 | 2023 | +11.56% | +0.88% | View data |
| 9 | 9 Ireland | 3.04 | 2023 | +6.18% | -0.3% | View data |
| 10 | 10 United States | 2.39 | 2023 | -0.44% | -2.01% | View data |
