CURRENT AFFAIRS

Detailed explanation-1: -The China Environmental Protection Tax Law only levies taxes on production and pays little attention to circulation, distribution, consumption, and use.

Detailed explanation-2: -The environmental protection tax (EPT) is an important environmental economic measure in China, and its main purpose is to protect the environment and reduce pollution emissions.

Detailed explanation-3: -Status of Environmental Tax in India Similarly, India’s Clean Environment Cess or coal cess acts as a carbon tax. The coal cess is levied on coal, lignite and peat at the rate of ₹400 per tonne, and the funds raised are managed by the National Clean Environment Fund.

Detailed explanation-4: -Green tax (or environmental tax) are taxes imposed on environmental pollutants or on goods whose repeated use contributes to pollution. It is a novel idea to enforce or introduce taxes on substances, which pollute the environment, the ultimate aim being the substantial reduction of pollution.