The South African government has approved draft proposals on taxing carbon emissions, which will be published for public comment in January.
The draft policy tables three carbon emission tax options for consideration, including a direct tax on actual measured emissions, a fossil fuel input tax on carbon content of fuels, and an output tax that could be applied to emitters where fuel is burnt.
South Africa already levies a carbon emissions tax on new passenger cars based on their certified CO2 emissions at R75 per g/km for each g/km above 120 g/km. This measure, announced in the 2010/11 budget, went into effect on September 1.
South Africa’s Deputy President, Kgalema Motlanthe, told oil and gas industry representatives in August that a new carbon tax will be necessary to encourage a substantial reduction in greenhouse gas emissions to which the government is committed over the next two decades.
.Tags: tax | budget | carbon tax | South Africa | oil and gas
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