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SA first African country to introduce carbon emissions tax
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| Contributor | IndyGeorgia |
| Last Edited | IndyGeorgia Feb 28, 2013 09:50am |
| Category | News |
| News Date | Feb 28, 2013 09:00am |
| Description | A CARBON tax would be introduced from 2015, Finance Minister Pravin Gordhan told Parliament in his budget speech on Wednesday.
This would make South Africa the second Brics nation and the first African one to introduce a tax aimed at reducing the emission of gases related to climate change.
The Brics are a formal grouping of major developing nations, including Brazil, Russia, China and India.
In 2010 India introduced a nationwide tax of $1.07/ton (at the time) of coal produced in, or imported into, the country. Carbon has become the catchword for all so-called greenhouse gases, linked to climate change.
The long-awaited updated carbon tax policy paper would be published by the end of March, Mr Gordhan said. South Africans already pay about R10bn a year in unofficial carbon taxes such as levies on vehicle emissions, electricity and fuel.
The tax would be introduced at the rate of R120/ ton of carbon-dioxide equivalent, effective January 1 2015. The rate would increase at 10% a year during the first phase of implementation, from 2015-2020. |
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