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Bardazzi R., Piacentino D.

the origin of the emissions. This content is stable and known,

and emissions from burning correspond fairly precisely to content, as no economically viable means exist, èt- Ieast for the

time being, for abating or sequestering emissions after combustion. As a conseguence, a carbon tax can be levied in the form of an excise tax on enerqy products, not much different from

those which are cornmon in rnany countries and in particular in Western Europe.

3.3. Secondly, the tax base must be defined. fn the context of

an analysis of an internationally agreed-upon carbon tax has been

suggested that either consunption or production could be taxed tWtràf ley-I{igle , Lgg]-l; when a national carbon tax is considered, Èowever, it seems that consumption should be chosen, as it allows

insulation of national economies, and is therefore better suited to a1low national discretion in tax policy.

3.4. In the third place, there is the question of choice of the

tax point, in consideration of the fact that fuels undergo, from

production (or import) to final use (or export) a complex process

involving transportation, transformation, and narketing.

Here it will suffice to note that there are two strongr reasons that suggest to move the tax point downstream, as far as

possible. In thi; manner, manoeuvre of tax rates and exemptions

is possible (an j.ssue _{that will be touched} below) _{i in addition}

a tax f omnula is used, which is usual in Italy as well as throughout Western Europe, where taxation of energy is an absolutely conmon practice, and is enected on the basis of the

choice of taxing refined products.

3.5. In the fourth place, it can be noted that taxation of imports and exemptj-on of exports are fuIly general features of

thà existing excise systems, and should be retained in the design of a carbn tax.

This approach is usually made operational by taking into

accounts imports and exports of fueIs, but not imports and exports of goods _into whose production fuels have entered. This solution has been dictated, in an apparent vaY, by practical

reasons, as international trade in fuels can be easily subjected

to border controls; however, it has been suggested that taking also into account imports and exports of goods produced with use

of fuels would make better economic sense, às it would offer better protection to the conpetitive position of domestic

industry in the j-nternational trade context.

Departures from the more traditional solution, however, seem like1y to meet great and perhaps forbidding difficulties. An important exception to this can nevertheless be singled out, electricity: on the one hand, primary energy content of

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