The carbon tax legislation specifies that the initial rate of carbon tax of R120 per tonne will be increased by consumer price index (CPI) +2% per year until 31 December 2022, and thereafter the rate of tax will be increased only by CPI. Therefore, the carbon tax rate will increase from R144 per tonne of carbon dioxide equivalent (CO2e) to R159 per tonne of CO2e for the 2023 calendar year.
Source KPMG
Latest Posts in "South Africa"
- South Africa Advances Toward Mandatory Peppol E-Invoicing and Real-Time VAT Reporting by 2028
- South Africa Moves Toward Mandatory E-Invoicing and Real-Time VAT Reporting Under SARS Modernisation
- South Africa to Launch Mandatory E-Invoicing and E-Reporting by 2028 Under New VAT Framework
- Court Upholds 15-Year Sentence for R3.6m VAT Fraud, Denies Juan Maritz’s Appeal
- South Africa’s E-Invoicing and Real-Time VAT: Transforming Tax Compliance and Business Transparency
