Legislation: Carbon Tax Act in force from 1 June

The Carbon Tax Act and related Customs & Excise Amendment Act were gazetted last week and will come into effect on 1 June, reports Pam Saxby for Legalbrief Policy Watch. Introducing emissions reduction measures that may otherwise eventually have been imposed in one form or another by the international community, the Carbon Tax Act’s overarching objective is to incentivise medium-to-long term behaviour change on the part of producers and consumers alike. It marks the culmination of a 10-year drafting and public consultation process.

Pivotal to carbon tax collections and payments, the Customs & Excise Amendment Act provides for the administration and limitation of allowances, the licensing of certain premises prescribed by rule and the regulation of actions pertaining to the submission and verification of accounts. In addition, it allows the South African Revenue Services commissioner to make rules regulating related duties, powers and rights.

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