§ 16 — Carbon tax

16.—(1) A tax, called the carbon tax, is charged on the total amount of reckonable GHG emissions in any year (called in this Act an emissions year) of a business facility that is a taxable facility of any registered person in that year.[Act 37 of 2022 wef 01/01/2024]

(1A) For the purpose of subsection (1), the total amount of reckonable GHG emissions of the business facility is as set out in the emissions report or the part of the emissions report for the reporting period, or the emissions reports or the parts of the emissions reports for the reporting periods, for that year for the business facility, that is or are verified under section 12 and approved by the Agency.[Act 37 of 2022 wef 01/01/2024]

(2) Subsection (1) does not apply if the total amount of the reckonable GHG emissions in that emissions year does not attain the second emissions threshold.[Act 37 of 2022 wef 01/01/2024]

(3) The amount of the tax charged under subsection (1) is calculated based on the formula A × B, where —(a)

A is the carbon dioxide equivalence of the total amount of the reckonable GHG emissions mentioned in subsection (1), rounded up to the nearest metric tonne; and

(b)

B is the carbon tax rate specified in Part 1 of the Third Schedule.

(4) The tax charged under subsection (1) accrues as a liability of the registered person having operational control over the taxable facility at the end of the reporting period or (if there is more than one) the last reporting period for the emissions year, and must be paid by the registered person in accordance with this Part.[Act 37 of 2022 wef 01/01/2024]

—(1) A tax, called the carbon tax, is charged on the total amount of reckonable GHG emissions in any year (called in this Act an emissions year) of a business facility that is a taxable facility of any registered person in that year.[Act 37 of 2022 wef 01/01/2024]

(1A) For the purpose of subsection (1), the total amount of reckonable GHG emissions of the business facility is as set out in the emissions report or the part of the emissions report for the reporting period, or the emissions reports or the parts of the emissions reports for the reporting periods, for that year for the business facility, that is or are verified under section 12 and approved by the Agency.[Act 37 of 2022 wef 01/01/2024]

(2) Subsection (1) does not apply if the total amount of the reckonable GHG emissions in that emissions year does not attain the second emissions threshold.[Act 37 of 2022 wef 01/01/2024]

(3) The amount of the tax charged under subsection (1) is calculated based on the formula A × B, where —(a)

A is the carbon dioxide equivalence of the total amount of the reckonable GHG emissions mentioned in subsection (1), rounded up to the nearest metric tonne; and

(b)

B is the carbon tax rate specified in Part 1 of the Third Schedule.

(4) The tax charged under subsection (1) accrues as a liability of the registered person having operational control over the taxable facility at the end of the reporting period or (if there is more than one) the last reporting period for the emissions year, and must be paid by the registered person in accordance with this Part.[Act 37 of 2022 wef 01/01/2024]