The Energy Council of South Africa, alongside other big business figureheads, have proposed improvements to the carbon tax proposals under the Taxation Laws Amendment Bill.
The Energy Council of South Africa, alongside other big business figureheads, have put forward recommendations for the country’s carbon tax under the proposed Taxation Laws Amendment Bill.
“Business’s priority is to positively fulfil our role for a decarbonised and sustainable South African economy. We are committed to an energy transition that is just and equitable for the country and look forward to partnering with the South African government to realise this journey,” said the council.
The group said there is a need for greater policy certainty around the retention of allowances – such as various incentives or financial aid for taxpayers transitioning to greener technologies.The business groups propose that a higher carbon price should only be considered post-2035, the exact date of which should be informed by a more detailed analysis of viable mitigation and socio-economic considerations, said the group.
The pass-through of the carbon tax to electricity consumers and through other input costs, such as construction material in the form of steel and cement, among others, essentially leads to effective double taxation, it said.
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