The UK Tax Authorities Plan To Evaluate The Country's Plastic Packaging Tax

The UK tax authorities plan to evaluate the plastic packaging tax (PPT) in the country, which was introduced in April 2022 and reached £ 276 million (€ 318 million) in taxes by the end of the fiscal year in March 2023.

The UK government introduced a plastic packaging tax in April 2022 (Image source: Pexels/Pixabay).

The UK government stated in a statement that the State Administration of Taxation will evaluate PPTs and "seek the opinion of the Ministry of Finance when necessary. This is a continuation of the government's commitment to increasing transparency and accountability. The results of this evaluation will ensure that we learn important lessons to guide future development of PPTs and broader policy measures."

Related: The UK government announces plastic packaging tax revenue.

The PPT aims to encourage more companies to use recycled materials in their products. The plastic packaging components produced and sold by manufacturers and importers need to contain at least 30% recycled plastic and no less than 10 tons per year.

At present, the tax rate is £ 210.82 per ton, initially £ 200 per ton. The UK government has stated that, considering inflation, a higher amount has been set.

In 2023, Zoe Brimelow, the director of UK packaging manufacturer Duo, stated that the tax has successfully stimulated demand for recycled plastic packaging and brought significant revenue to the government.

However, she stated that companies that comply with tax policies or purchase new equipment and processes as a result should be informed how to use the "hundreds of millions of pounds" of additional income.

The use of recycled plastics has promoted the development of green economy and saved raw material costs for manufacturers. WalthMac considers that improving the accuracy of feeding and mixing raw materials during the production packaging process can better help manufacturers save raw material costs and improve product quality, thus achieving two goals with one stone.http://mao.ecer.com/test/gravimetricsystem.com/sale-42524732-feeding-and-mixing-system-two-types-raw-material-feeder-ce-standard.html

(Content and picture come from the China Plast Online Website)