Join us as we unpack the provisions of the new Carbon Tax Bill.
The Carbon Tax Bill which has been debated for the past 8 years has finally been signed into law and has been effective since 01 June 2019. The Bill imposes a liability on the greenhouse gases emitted during the production of goods and services. The nominal tax rate is R120 per tonne of carbon emitted, although with the various tax-free allowances the rate could drop to between R6 and R48 per tonne.
Allowances included are:
- a basic tax-free allowance of 60 percent for all activities,
- a 10 percent process and fugitive emissions allowance,
- a maximum 10 percent allowance for companies using carbon offsets to reduce their tax liability,
- a performance allowance of up to five percent for companies reducing the emissions intensity of their activities,
- a five percent carbon budget allowance for complying with the reporting requirements,·and
- a maximum 10 percent allowance for trade exposed sectors.
Our 1 day workshop will assist you to understand:
- Who is liable for carbon tax I The Greenhouse Gases I The tax base - Scope 1 emissions I Rate of tax·Tax Period I Calculating emissions I Tax allowances and offsets I Sectors not covered by the tax I How to calculate tax liability and use allowances to maximise tax reductions
Date: 07 November
Venue: 36 Wierda Road West, Sandton
Cost: R2 950.00pp