Carbon Tax Act definition

Carbon Tax Act means an Act of Parliament that makes provision for a carbon tax;”.
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Carbon Tax Act means the South African Carbon Tax Act, No. 15 of 2019.
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Carbon Tax Act means the Carbon Tax Act, No. 15 of 2019, published in the Borrower’s Government Gazette No.42483 of May 23, 2019, as amended as of the date of this Agreement.
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Examples of Carbon Tax Act in a sentence

  • The Carbon Tax Act was enacted with retroactive effect to January 1, 2019.

  • Under the Carbon Tax Act, No 15 of 2019 (“Carbon Tax Act”), which became effective on 1 June 2019, taxpayers will now qualify for a carbon offset allowance of up to a maximum of 10 per cent of its total greenhouse gas emissions under the Carbon Tax Act.

  • One of the suggestions is that the NCV values in Schedule 1 of the Carbon Tax Act are based on Annexure A of the Technical Guidelines and that the proposed country specific NCV values of the South African Petroleum Industry Association (SAPIA) in Annexure D of the Technical Guidelines should be considered.

  • Based on discussions with the DEFF, the National Treasury proposes that the NCV values for the fuels defined in Schedule 1 of the Carbon Tax Act should also include IPCC expected NCV values range.

  • The methodology included in s4(2) of the Carbon Tax Act provides for a single NCV value for each activity.

  • The Carbon Tax Act similar to other tax legislation therefore defines the tax base in sections 4(1) and (2) of the Act.

  • It is noted that GHG emissions are reported to the DEFF therefore there is no need for the Carbon Tax Act to provide for the calculation of emissions.

  • The Carbon Tax Act is aligned with the requirements of the DEFF for GHG emissions reporting.

  • To avoid a double benefit scenario, where the same emissions reductions lead to both an income tax exemption under section 12K of the Act and a lower carbon tax liability for a taxpayer under the Carbon Tax Act, it is proposed that the tax exemption for certified emission reduction units from CDM projects is repealed to become effective from the date of introduction of the carbon tax.

  • Main references: Sections 1, 3, 4, 5, 7, 8, 9, 13 & Schedules 1 & 2 of the Carbon Tax Act: clauses 83 to 92 of the Draft TLAB) The President signed into law the Carbon Tax Act No 15 of 2019 on 22 May 2019 giving effect to the carbon tax from 1 June 2019.


More Definitions of Carbon Tax Act

Carbon Tax Act means the Greenhouse Gas Pollution Pricing Act (Canada);
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Carbon Tax Act. ’ means the Carbon Tax Act, 2019 (Act No. 15 of 2019);
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Carbon Tax Act means the South African Carbon Tax Act, No. 15 of 2019. "CCIAs" means climate change impact assessments.
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Related to Carbon Tax Act

  • Tax Act means the Income Tax Act (Canada).

  • Other Connection Taxes means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document).

  • Income Taxes means any Tax which is based upon, measured by, or calculated with respect to (i) net income or profits (including, but not limited to, any capital gains, gross receipts, value added or minimum Tax) or (ii) multiple bases (including, but not limited to, corporate franchise, doing business or occupation Taxes) if one or more of the bases upon which such Tax may be based, by which it may be measured, or with respect to which it may be calculated is described in clause (i) of this sentence.