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| Author: | Hall, V. B. Truong, T. P. Nguyen, V. A. |
| Title: | An Australian fuel substitution tax model: ORANI-LFT. |
| Journal: | Energy Economics
1990 : OCT, VOL. 12:4, p. 255-268 |
| Index terms: | PETROLEUM INDUSTRY TAXATION ECONOMIC MODELS AUSTRALIA |
| Language: | eng |
| Abstract: | ORANI-LFT is an extension of the ORANI general purpose short-run general equilibrium model of the Australian economy. The extended model can be used for the examination of tax issues and interfuel subsitution in the industrial sector. It is used here to illustrate the effects of a considerable switch from crude oil levy revenue to petroleum products excise revenue. The numerical values presented follow from a significant fall in revenue from the crude oil levy, caused by a 10 p.c. fall in the foreign currency price of imported crude oil, including cost, insurance and freight. This revenue fall was offset by a uniform increase in petroleum products excise, so as to achieve either nominal or real liquid fuel tax revenue neutrality. |
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