The global tax expenditure on fossil fuels varies significantly between countries. In 2023, the United Kingdom led with $19.22 billion. Countries such as India and China show upward trends with year-on-year increases of 8.32% and 4.79%, respectively. In contrast, Germany and Canada experienced declines at -5.54% and -5.13%. While some nations face reductions, others like Ukraine have seen substantial growth (9.9%), hinting at shifting fiscal policies or economic initiatives affecting fossil fuel subsidies.
Future trends to consider include continued policy shifts towards renewable energy, which may decrease fossil fuel tax expenditures. Economic developments and geopolitical events might prompt further fiscal changes, impacting these expenditures globally.
Top countries in Tax Expenditure on All Fossil Fuels for All Beneficiaries or Sectors by Country
| # | 10 Countries | Million US Dollars, Constant = 2020 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 19,220 | 2023 | +6.19% | +6.36% | View data |
| 2 | 2 Russia | 14,930 | 2023 | +14.31% | -0.65% | View data |
| 3 | 3 France | 11,120 | 2023 | +5.22% | +3.78% | View data |
| 4 | 4 India | 9,670 | 2023 | +6.58% | +8.32% | View data |
| 5 | 5 Italy | 9,240 | 2023 | +1.11% | -0.85% | View data |
| 6 | 6 China | 8,060 | 2023 | +4.12% | +4.79% | View data |
| 7 | 7 Germany | 5,890 | 2023 | -5.16% | -5.54% | View data |
| 8 | 8 United States | 5,670 | 2023 | -4.44% | +0.75% | View data |
| 9 | 9 Switzerland | 2,880 | 2023 | +11.78% | +1.97% | View data |
| 10 | 10 South Africa | 2,550 | 2023 | +6.81% | +2.54% | View data |
