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A Study on Green Taxation and its Impact on Economic Development: A Mini-Review

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Document pages: 21 pages

Abstract: This research analyzed green taxation as one of the policies that governments are using in conserving the environment and discouraging the negative impact of businesses. Green taxes are also known as environmental, pollution, eco, and carbon taxes and are used to shift the burden of taxation from growth-oriented factors to help in reducing depletion of natural resources and pollution. The implementation of green taxation has not been fully accepted in all countries but is seen to apply in developed nations mostly. Some developing countries are using soft policies such as subsidies for renewable energy. The green taxation policies have faced many challenges mainly due to their negative impact on the economy such as an increased rate of unemployment. However, there are ways of making the reforms applicable without a negative impact on the environment such as by supporting them with complementary policies. Moreover, there is a need for collaboration among all stakeholders, mainly the government, firms and environmental groups, to come up with innovative methods of production. Transportation, tire and other manufacturing industries are the main contributors to environmental degradation. While these industries cannot be eliminated, there are models that can be used to help them remain profitable and sustainable.

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