Treasury extends first phase of carbon tax by three years
By extending phase 1 of the carbon tax, the government risks jeopardising SA’s efforts to meet its climate goals
The companies responsible for the bulk of SA’s greenhouse gas emissions have, in effect, been given another three-year grace period to reduce their consumption of carbon-intensive energy resources and to bring in new technologies that can help reduce their overall emissions.
SA introduced the first phase of the carbon tax in June 2019 as part of government’s broader climate change mitigation policy. This first phase, which makes provisions for companies to receive 60% — 95% tax allowances such as rebates or exemptions, was scheduled to end this year, but Treasury has now announced that it will be extended by three more years up to the end of 2025...
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