The analysis of global tax expenditure on fossil fuels indicates that the United Kingdom, Russia, and France lead in tax expenditures, with the UK showing the highest variation at 6.36%. India follows with a notable 8.32% increase. In contrast, Germany, Canada, and Spain experienced declines, notably Germany with -5.54% and Spain with a significant drop of -13.63%. Tax expenses are rising in China, Switzerland, and Ireland, while declines in Poland, Greece, and South Korea reflect shifting policy adjustments.
Future trends to watch include the impact of geopolitical shifts on tax policy, the influence of global commitments to reducing fossil fuel reliance, and changes in energy taxation as countries transition towards sustainable energy solutions. Trends will likely be heavily influenced by international climate agreements and internal policy reforms as nations push towards greener economies.
Top countries in Tax Expenditure on All Fossil Fuels for All Beneficiaries or Sectors Share by Country (Million US Dollars, Constant = 2020)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 15.75 | 2023 | +6.19% | +6.36% | View data |
| 2 | 2 Russia | 12.24 | 2023 | +14.31% | -0.65% | View data |
| 3 | 3 France | 9.11 | 2023 | +5.22% | +3.78% | View data |
| 4 | 4 India | 7.92 | 2023 | +6.58% | +8.32% | View data |
| 5 | 5 Italy | 7.57 | 2023 | +1.11% | -0.85% | View data |
| 6 | 6 China | 6.6 | 2023 | +4.12% | +4.79% | View data |
| 7 | 7 Germany | 4.83 | 2023 | -5.16% | -5.54% | View data |
| 8 | 8 United States | 4.65 | 2023 | -4.44% | +0.75% | View data |
| 9 | 9 Switzerland | 2.36 | 2023 | +11.78% | +1.97% | View data |
| 10 | 10 South Africa | 2.09 | 2023 | +6.81% | +2.54% | View data |
