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South Africa Introduces Oil Pollution Levy Bills

by Lorys Charalambous, Tax-News.com, Cyprus

25 June 2013


As part of a package of measures designed to give effect to South Africa's obligations under the International Maritime Organization Protocol of 1992, the Government has issued legislation to provide for the collection of a levy to compensate for damage caused by marine pollution.

The 1992 Protocol to the International Convention on the Establishment of an International Fund for Compensation for Oil Pollution Damage, 1971, establishes an international fund, called the International Oil Pollution Compensation (IOPC) Fund. The purpose of the Fund is to pay compensation to victims of pollution damage where they have been unable to obtain compensation, or compensation in full. The IOPC Fund receives its funds from cargo owners.

The Government's legislation has been framed to ensure that South Africa, within the 1992 protocol, will have access to the IOPC Fund, so as to assist in the payment of any damages arising from oil spills. The legislative package therefore also deals with questions of liability and compensation for loss or damage caused by contamination resulting from the escape or discharge of persistent oil from tankers.

In that respect, to provide for the implementation of the 1992 Protocol by South Africa, the Merchant Shipping (International Oil Pollution Compensation Fund) Administration Bill will give the necessary legislative authority to enable the South African Revenue Service to administer the collection of the IOPC Fund contributions levy.

On the other hand, the Merchant Shipping (International Oil Pollution Compensation Fund) Contributions Bill is a money bill that provides for the imposition and collection of the contributions that are due to be paid over to the Fund.

TAGS: South Africa | environment | compliance | tax | business | marine | law | fees | legislation | standards | Africa

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