§ 20C — Reduction of reckonable GHG emissions chargeable to tax

20C. Despite section 16(3), where a taxable facility is eligible for any allowance for any emissions year, the amount of the tax chargeable under section 16(1) for that emissions year is calculated based on the formula (A – C) × B, where —(a)

A and B have the meanings given by section 16(3)(a) and (b), respectively;

(b)

C is the allowance for the taxable facility for the emissions year; and

(c)

(A – C) is rounded up to the nearest metric tonne.[Act 37 of 2022 wef 01/01/2024]