On 14 December 2017, the South African National Treasury
published a Draft Carbon Tax Bill(the
"Bill") for public comment, with the
comment period commencing immediately and continuing until 9 March
2018.
The following high-level points are important to note in
relation to the Bill:
Implementation date
The actual date of implementation of the carbon tax will be
determined through a separate process by the Minister of Finance
and will be announced either during the course of 2018 or at the
National Budget 2019, taking into account the state of the
economy.
Tax incentives and revenue recycling measures
The announcement of the carbon tax implementation date will be
complemented by a package of tax incentives and revenue recycling
measures to minimise the impact in the first phase of the policy
(up to 2022) on the price of electricity and energy-intensive
sectors such as mining, iron and steel.
