The National Treasury on Wednesday said it expects to provide further clarity on the Carbon Tax after Parliament considers the proposed environmental tax on the emission of carbon dioxide, and its date of implementation, this year.
A revised Carbon Tax Bill, which has been in the pipeline for a number of years, will be published for public consultation and tabled in Parliament by mid-2017.
This is following additional public consultations that followed the 2016 draft Carbon Tax Bill.
According to the National Treasury’s 2017 Budget, a revised regulation for the carbon offset allowance, enabling firms to reduce their carbon tax liability, will be published by mid-2017.
By the end of this year, government expects to provide clarity on the alignment of the carbon tax and the carbon budget after 2020.
The National Treasury said there would be no impact on the price of electricity during the first phase of the tax, which extends until 2020.
The implementation of the proposed Carbon Tax has been delayed by National Treasury since January 2015 amid uncertainties regarding its impact on the economy.