Jan. 6, 2017
Two years before it is expected to start phasing down HFCs under the Kigali Agreement, New Zealand has opted to increase tax rates on synthetic greenhouse gases (SGGs) by 295.5% compared to last year.
SGGs include hydrofluorocarbons (HFCs), perfluorocarbons (PFCs) and sulphur hexafluoride (SF6).
Raising the price from $0.30 per unit (as applied in 2016) to $9.85 from 1 January 2017 is increasing the tax burden on importing HFCs into New Zealand.
The levy targets common goods like fridges, freezers, heat pumps and air conditioners, as well as refrigerated trailers and motor vehicles whose air-conditioning units contain HFCs.