In 2023, Poland had the highest tax expenditure on coal relative to GDP at 0.15%, followed by the United Kingdom at 0.015%, Russia at 0.005%, and both Canada and the United States at 0.001%. Year-on-year analysis revealed the United Kingdom's tax expenditure increased by 8.45%, while the United States saw a 12.94% decrease. Poland experienced a 7.87% decline, and Russia had a modest increase of 4.56%. Over the last five years, compounded annual growth rates suggest a trend of decreasing tax expenditures in North America, while Europe shows mixed trends.
Future trends to watch include policy changes driven by the global shift towards renewable energy, which could lead to further reductions in coal tax expenditures. Increasing environmental regulations and international agreements on carbon emissions may also influence these expenditures, particularly in Europe and North America.
Top countries in Tax Expenditure on Coal for Fossil Fuel Production by Country
| # | 5 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Poland | 0.15 | 2023 | +16.54% | -7.87% | View data |
| 2 | 2 United Kingdom | 0.015 | 2023 | +7.14% | +8.45% | View data |
| 3 | 3 Russia | 0.005 | 2023 | +25% | +4.56% | View data |
| 4 | 4 Canada | 0.001 | 2023 | -100% | View data | |
| 5 | 5 United States | 0.001 | 2023 | 0% | -12.94% | View data |
