WHAT DOES COV MEAN?

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Incentive tax on volatile organic compounds (VOCs).

Volatile organic compounds (VOCs) are used as solvents in many industries and are contained in various products, such as in paints, varnishes and some detergents. Emitted into the air, these substances contribute, along with nitrogen oxide, to the formation of high concentrations of tropospheric ozone (summer smog). The VOC tax has been levied since January 1, 2000, and as an economic instrument for environmental protection, it provides a financial incentive to reduce VOC emissions.

Skills

Posted on

3 June 2020