[Carbon tax update

*- THE MARK OF TRUSTED PARTNERSHIP -* *South Africa’s carbon tax: postponed to June 2019 * Last week South Africa’s Finance Minister, Tito Mboweni, tabled his Medium Term Budget Statement in Parliament. The Minister highlighted during his speech that business and labour have raised a number of concerns regarding the alignment of carbon tax and the carbon budgeting system. In light of this, Mboweni stated that the decision had been taken to postpone the implementation of the tax by 6 months, from January 2019 to June 2019, to allow for these design issues to be rectified. In all likelihood, this alignment will be achieved by imposing a higher tax rate as a penalty for emissions exceeding the carbon budget.

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