Since January 1st, 2021 a new Plastic Tax has been introduced across the European Union. The EU Packaging Levy or Plastic Tax has been in put place as part of the EU COVID-19 recovery fund. The funds raised from this revenue stream will bolster EU budgets between 2021 and 2027. Additionally, it will contribute towards the repayment of EU loans. This is alongside other planned environmental taxes such as the ‘Carbon Border Adjustment Mechanism’ or Carbon Border Tax.
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