South Africa’s new Carbon Tax Law

South Africa has finally made the carbon tax an official law, first drafted in 2010 the law has had a long road in getting approval, with 3 postponements due to mining companies, steel  manufactures and even government owned enterprises disputing the law saying it will hurt profits and push up costs.

South Africa being one of Africa’s worst when it comes carbon emissions can move towards lowering emission in agreement with global climate change requirements.

Signed in to law by President Cyril Ramaphosa it will come in to operation 1 June December 2022, with a tax rate of R120 ($8.34) per tonne of carbon dioxide equivalent. Climate change activists believe that the law is still not doing enough to lower carbon emission and are called for more stringent measures.

 Source: ewn.co.za

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