European Environmentally Related Tax Revenue from Taxes on Energy in Manufacturing of Basic Pharmaceutical Products and Pharmaceutical Preparations by Country

In 2023, Switzerland and the United Kingdom led the European environmentally related tax revenue from taxes on energy in pharmaceutical manufacturing, with Switzerland's revenue increasing by 2.93% and the UK's by 4.07% year-on-year. Greece saw a notable 6.25% rise, whereas Ireland faced a significant decline of 9.06%. Spain and Sweden experienced marginal declines, while countries like Croatia and Cyprus witnessed moderate gains. Latvia had the largest drop at 15.33%. Over the past five years, trends suggest variations, with a specific focus on shifts in energy taxation policies impacting revenue.

Looking ahead, the focus will likely be on policy harmonization across Europe, increasing adoption of sustainable energy practices, and potential impacts of energy transition on tax structures within the pharmaceutical sector, pointing to further diversification in revenue outcomes across different countries.