Statistics Act, 1999
R 385
Carbon Tax Act, 2019 (Act No. 15 of 2019)Part II : Allowances13. Offset allowance |
| (1) | Subject to subsection (2), a taxpayer may reduce the amount in respect of the carbon tax for which the taxpayer is liable in respect of a tax period by utilising carbon offsets as prescribed by the Minister. |
[Section 13(1) substituted by section 97(1) of the Taxation Laws Amendment Act, 2019 (Act No. 34 of 2019), GG42951, dated 15 January 2020 - deemed to have come into operation 1 June 2019 (Section 97(2)]
| (2) | The reduction of the liability for the carbon tax allowed in terms of subsection (1) must not exceed so much of the percentage of the total greenhouse gas emissions of a taxpayer in respect of a tax period as is determined by matching the line in the column "Activity/Sector" with the percentage in the corresponding line of the column "Offsets allowance %" in Schedule 2. |
