New Delhi: The face-off between the European Union (EU) and India over carbon tax on aviation could see a resolution, with a compromise formula likely to evolve at the UN's International Civil Aviation Organization (ICAO)'s meeting to be held in end-October.
Under the proposed formula, an international market-based mechanism would be developed for taxing international flights but it would apply to flights between developing countries at a later date, covering only the developed nations to begin with.
Revenues from developing countries' airlines would be reverted back to the respective nations to deploy in reducing greenhouse gas emissions from the aviation sector. The tax collected from rich countries' carriers would be shared with developing nations.
12/10/12 Nitin Sethi/Economic Times
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Under the proposed formula, an international market-based mechanism would be developed for taxing international flights but it would apply to flights between developing countries at a later date, covering only the developed nations to begin with.
Revenues from developing countries' airlines would be reverted back to the respective nations to deploy in reducing greenhouse gas emissions from the aviation sector. The tax collected from rich countries' carriers would be shared with developing nations.
12/10/12 Nitin Sethi/Economic Times
