Corporate Tax

Carbon Tax Series: Carbon and Environmental Tax: Budget 2022 (Part 3) - 2022

CPD Hours: 2

Price: R495.00

Title / Topic

Carbon Tax Series: Carbon and Environmental Tax: Budget 2022 (Part 3) - 2022

Presenters : Jason Daniel



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

Click here to read more

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

Click here to read more

Part 3: Carbon and Environmental Tax: Budget 2022 (Part 3)

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

21 June 2022 I Click here to read more

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

20 September 2022 I Click here to read more

Click here to view the full series.

Webinar Content

Part 3: Carbon Tax and Environmental Taxes on an International Scale

This webinar deal with:

  • What are the major developments from the 2022 Budget Speech as it relates to environmental taxes?
    • Extension of phase 1 of carbon tax to the end of 2025.
    • Introduction of carbon budgets from 1 January 2023.
    • Carbon tax rate increase to R144 per tonne of carbon dioxide equivalent.
  • Carbon budgets – how will they be administered?
    • Climate Change Bill.
  • Extension of the energy efficiency savings tax incentive (Section 12L of the Income Tax Act). 
  • Detailed discussion on the carbon tax allowances:
    • Basic tax-free allowance.
    • Process emissions allowance.
    • Fugitive emissions allowance.
    • Trade exposure allowance.
    • Performance allowance.
    • Carbon budget allowance.
    • Carbon offsets allowance.

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