Economic and Legal Considerations
Chapter 7: The administration of the IoC charge
Chapter 6 focuses on the practical administration of a consumption carbon charge. It elaborates on the critical areas of operations of hybrid consumption-based tax systems (liability creation, liability acquittal, and liability at hand) as well as the central administrative parameters (authorization, reporting, monitoring, and verification). It then demonstrates how reporting and monitoring requirements can be incorporated into existing structures, so operating costs of the schemes are minimized. In the international context, the IoC charge can be incorporated into existing customs clearance procedures with de minimis rules for low material content products to reduce administrative efforts. Finally, it discusses the treatment of scrap: liability should be acquitted where scrap is returned to material plants.
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