The Transparency Commission in charge of evaluating the additional revenue from VAT and TIPP due to higher oil prices is launched.
Thierry Breton said Tuesday 6 September that future transparency commission on oil taxation would consist of seven members and chaired by Bruno Durieux.
In the statement, the Minister of Economy and Finance and Jean-Francois Cope, the Minister Delegate for the Budget, expressed their wish to install this commission "in the coming days" "in order to bring first elements of evaluation before the start of the 2006 Budget Review in Parliament ".
The said commission will be responsible for assessing the amount of any additional revenue from VAT and TIPP (domestic tax on petroleum products) related to rising oil prices.
Note econology: Yes ... expensive oil rich states and oil ... and if prices remain high, the oil and electricians quickly increase their rates consistently ...