Tax Incentive for the Green Products
The Tax Incentives for Energy sustainability Building
Introduction Nowadays, the built environment has a tremendous impact on the natural environment, human health and economy. Since buildings have substantial impacts on the environment, it has become necessary to pay more attention to environmental performance in building design (Pearman & Jager, 1989). Green buildings also describe as sustainable building, are developed to minimize the total environmental impacts which are making effective use of energy and resources, recycle materials and reduce the emission of harmful substances throughout its life cycle (Greenbuildingindex.org, 2012). While green buildings have been commonly accepted in United States, Europe, however in most Asian countries including China, Hong Kong, India, Malaysia and others, the concept of green building is still in an early stage. Although there are a few projects that are intended to improve environmental performance including productivity, no concerted action towards environmental and sustainable design and the use of green building products exist yet (Hong & Chiang, 2007; Zhang & Liu, 2009). In this assignment, we are discussing the tax incentive or penalty given by various countries to promote green property development and energy efficiency consumption, and the effectiveness of such tax incentives.
(a) Tax incentives provided by various countries in enhancing for more environmentally friendly product consumption. May includes the tax penalties imposed for engaging in environmentally hazardous activities.
United Stated (USA) US Government started to use income tax allowance as a policy instrument in the late of 1970s to promote energy conservation (Gillingham et al, 2006). There is several federal tax credit and deduction is provided by US federal Government under The Energy Tax Act of 1978 (ETA), for example federal tax credit for residential energy efficiency investments in homes built after 1977 and
Introduction Nowadays, the built environment has a tremendous impact on the natural environment, human health and economy. Since buildings have substantial impacts on the environment, it has become necessary to pay more attention to environmental performance in building design (Pearman & Jager, 1989). Green buildings also describe as sustainable building, are developed to minimize the total environmental impacts which are making effective use of energy and resources, recycle materials and reduce the emission of harmful substances throughout its life cycle (Greenbuildingindex.org, 2012). While green buildings have been commonly accepted in United States, Europe, however in most Asian countries including China, Hong Kong, India, Malaysia and others, the concept of green building is still in an early stage. Although there are a few projects that are intended to improve environmental performance including productivity, no concerted action towards environmental and sustainable design and the use of green building products exist yet (Hong & Chiang, 2007; Zhang & Liu, 2009). In this assignment, we are discussing the tax incentive or penalty given by various countries to promote green property development and energy efficiency consumption, and the effectiveness of such tax incentives.
(a) Tax incentives provided by various countries in enhancing for more environmentally friendly product consumption. May includes the tax penalties imposed for engaging in environmentally hazardous activities.
United Stated (USA) US Government started to use income tax allowance as a policy instrument in the late of 1970s to promote energy conservation (Gillingham et al, 2006). There is several federal tax credit and deduction is provided by US federal Government under The Energy Tax Act of 1978 (ETA), for example federal tax credit for residential energy efficiency investments in homes built after 1977 and