Tax benefits coming for biofuels

11th January 2006, Comments 0 comments

11 January 2006, BRUSSELS – Belgium will soon grant tax benefits for the use of biofuels and bioethanols, Finance Minister Didier Reynders announced on Wednesday.

11 January 2006

BRUSSELS – Belgium will soon grant tax benefits for the use of biofuels and bioethanols, Finance Minister Didier Reynders announced on Wednesday.

Speaking alongside Agriculture Minster Sabine Laruelle at the opening of a car salon, Reynders said the European Commission had given its go ahead for the scheme at the end of December.

The aim of the scheme will be to gradually introduce the use of alcohol-based biofuels and bioethanols for vehicles in Belgium, replacing traditional diesel or unleaded fuels.

Belgium had to notify the European Commission as the tax break falls under a state aid scheme, requiring EU approval that it does not upset the internal market.

EU backing for the new tax system was boosted by a new European law on biocarburants that came into force last July to encourage the manufacture of more environmentally friendly fuels in Europe.

[Copyright Expatica 2006]

Subject: Belgian news

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