Carbon Tax 101

Overview

The carbon tax rate will increase by the amount of the consumer price inflation (CPI) of the preceding tax period plus two per cent until 31 December 2022, and thereafter, only by CPI of the preceding tax period. The GHG emissions resulting from fuel combustion activities, industrial processes and fugitive emissions expressed as a carbon dioxide equivalent will be taxable. A person conducting an activity in South Africa resulting in GHG emissions equal to and/or above the thresholds as provided for in Schedule 2 of the Carbon Tax Act, will be subject to carbon tax.

This series of five webinars is aimed at addressing and unpacking the nuances of carbon tax and its interplay with environmental legislation, providing practical insight and an overview of the key provisions within the Carbon Tax Act, and exploring the impact that carbon tax act has on businesses. We look to compare carbon tax in South Africa against environmental levies implemented in other jurisdictions to understand the key successes and failures of carbon tax in South Africa. Finally, we aim to examine carbon taxes through a broader lens by examining the economic impact of its implementation and how carbon taxes will drive the focus on Environmental, Social and Governance (ESG) factors.

Part 1: Carbon Tax 101 – An Overview

18 January 2022 

Part 2: Carbon Tax – Who is Ultimately Affected by its Implementation?

15 February 2022 I Click here to read more

Part 3: Carbon and Environmental Tax: Budget 2022

23 March 2022 I Click here to read more

Part 4: Practical Considerations, Pitfalls, and Successes of the Carbon Tax Act

19 April 2022 I Click here to read more

Part 5: The future of Environmental Taxes, Economic Outlook, and the rise of ESG

17 May 2022 I Click here to read more

Click here to view the full series.

Webinar Content

Part 1: Carbon Tax 101 – An Overview

18 January 2022

This session will cover the following:

• What is carbon tax:
  • The carbon tax landscape in South Africa.
  • Reasons as to why carbon tax was introduced.
  • The Carbon Tax Act framework.
  • Phase 1 of carbon tax vs phase 2 of carbon tax.
  • Who is considered a taxpayer under the Carbon Tax Act?
• Greenhouse gas emissions covered:
  • The national environmental management: Air Quality Act.
  • The national greenhouse gas emission reporting regulations.
  • The technical guidelines for monitoring, reporting and verification of greenhouse gas emissions by industry.
  • The linkage between the Carbon Tax Act and environmental legislation.
  • Section 4 of the Carbon Tax Act: “The Tax Base.”
• Carbon tax calculation:
  • Section 6 of the Carbon Tax Act.
  • SARS DA180: Environmental levy accounts.
• Allowances:
  • Basic tax-free allowance.
  • Process emissions allowance.
  • Fugitive emissions allowance.
  • Trade exposure allowance.
  • Performance allowance.
  • Carbon budget allowance.
  • Carbon offsets allowance.
• Compliance:
  • SARS DA185: Registration and licensing requirements.

Who should attend?

Tax practitioners, financial directors, financial managers, professionals engaged in the areas of carbon tax reporting and compliance.

Presenter

Jason Daniel

Tax Manager I Tax and Legal Services department, PwC South Africa

Jason holds a BCom (Law), LLB, LLM (International Commercial Law) and LLM (Tax Law). He is an Admitted Attorney of the High Court of South Africa as well as an accredited and registered carbon footprint analyst at the Institute of Environmental Management and Assessment (IEMA). Jason is also a committee member within the South African Institute of Chartered Accountants (SAICA) carbon tax sub-committee.

CPD

This event and successful completion of the online assessment will secure 2 hours verifiable output Tax CPD points..

Event Investment

CPD subscribers: Free for all CPD subscribers.

Regular price: R495.00

SAIT member: R395.00

Group price (five attendees maximum): R950.00

Payments and cancellations

• All payments must be made by EFT or by credit card, at least 3 working days before commencement of an event.
• Kindly note that should payment not been received 2 days after the event, legal action will be taken
• Proof of payment will be requested at registration if payment at that point in time has not been reflected on the Tax Faculty's bank account.
• Only written notice of cancellation will be recognised.
• Cancellation conditions:
  • If the cancellation occurs more than 4 working days prior to the event no cancellation fee will be charged.
  • If the cancellation occurs less than 4 working days prior to the event a 100% cancellation fee will apply.
• Delegates who book and fail to attend will be liable for the full event fee.
• The Tax Faculty's liability in the case of an event being cancelled will be limited to a refund or credit of the event fee.
• Please click here for the full terms and conditions.