South Africa: Carbon offset administration system for carbon tax
South Africa: Carbon offset administration system
The carbon offset administration system went live on 23 July 2020.
A provision of the carbon tax law provides for a carbon offset allowance—whereby taxpayers may reduce the amount of carbon tax payable by using carbon offsets in respect of an approved project. The carbon offset administration system is intended to facilitate the receipt and approval of project applications, as well as the issuance of the offset retirement certificates, in order for the carbon offset allowance to be claimed.
All eligible participants may register on the carbon offset administration system and submit project applications for further processing.
Taxpayers need to note that the submission of annual carbon tax accounts and the payment of the carbon tax are due by 31 October 2020 for the period ended 31 December 2019.
Read a July 2020 report [PDF 122 KB] prepared by the KPMG member firm in South Africa
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