Spain. A proposal by Spain's Finance Ministry imposing an excise tax on HFC refrigerants could increase the price of refrigerants by almost eight times their current value, in an economy still struggling to recover after last year's European bailout.
The tax on fluorocarbons would raise 340 million euros a year and is part of a group of tax increases that includes alcohol and tobacco, in addition to the elimination of deductions to large corporate companies. In total, the government expects to raise 4.7 billion euros a year.
Industry associations held emergency meetings over the new tax that could apply an increase as high as 76 euros per kilogram.
The excise tax on fluorinated greenhouse gases could come into force on 1 January 2014.
