Friday 19 November 2010

Swiss in bid to scrap VAT for energy tax

Switzerland's Liberal Green Party is campaigning to replace VAT with a duty on non-renewable energy sources.

At a party meeting, LGP members said the energy tax would be an incentive for people to reduce oil and gas consumption while giving renewable energy sources a competitive advantage.

The party, founded five years ago, said this would free around 320,000 companies from the administrative burden of VAT.

Party president Martin Bäumle said the energy tax would double the price of oil and add $1.04 to the price of petrol.

The LGP claims liberal and environmental values and forms a group in parliament with the centre-right Christian Democrats and the Protestant Party.