Carbon Tax: Summary Of Selected Recent Developments

The Carbon Tax Act is a relatively recent piece of legislation having been passed into law with effect from 1 June 2019. It is likely that the pace of legislative amendments and administrative guidance will remain strong in the foreseeable future as organisations of all shapes and sizes and across all industry sectors adapt to the implications of a price on carbon. The regime has created an expansive regulatory framework that assigns responsibility for different aspects of the carbon tax regime to the South African Revenue Service, the Department of Forestry, Fisheries, and the Environment and the Department of Energy. Over time these initiatives will have a transformative effect on the South African economy. This article contains a summary of recent carbon tax developments.