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SA’s Proposed Carbon Tax Postponed by National Treasury to 2016

International Tax 2011Business Tax and Company Law QuarterlyWild LawThe National Treasury has decided to delay the implementation of carbon tax, much to the relief of local industry, reports Lynley Donnelly for the Mail & Guardian.

The proposed carbon tax has now been tabled for 2016, so that it can be aligned with the desired emissions reductions outcomes being developed by the Department of Environmental Affairs and Tourism.

Experts welcomed the move as the delay will allow government to link the tax mechanism to climate change mitigation efforts, addressing criticisms that it would be little more than a revenue generating tool. They noted however that specific benchmarks still had to be established for local economic sectors, before emission reductions targets could be determined.

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