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2015 Carbon Tax Seminar - Johannesburg
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2015/12/01
When: 1 December 2015
From 09:00 until 16:30 ( Registrations & Breakfast from 08:00)
Where: ENSafrica Auditorium
150 West Street
Sandton
Johannesburg, Gauteng  2196
South Africa
Contact: Ingrid Whitehead


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Overview

After years of debate, National Treasury has finally released an official draft of the proposed Carbon Tax legislation on 2 November 2015. Comment is due by 15 December 2015 with the expectation of a revised submission to Cabinet, followed by Parliamentary introduction.

The question for many companies is how to respond if they don't understand how the numbers work.

The Bill itself is nothing like the average tax professional has ever witnessed before. The terminology is not based on any traditional tax principles. The base of the tax itself is literally:

X = {(E - D - S) x (1 - C)x R} + {P x (1 - J) x R} + {F x (1 - K) x R}

The charge is calculated not only on the purchase of fossil fuels, but also from process emissions and sequestration activities.

We at SAIT are accordingly hosting a training event to facilitate meaningful comment by 15 December 2015 and preparation for this pending tax.

Course Content

09:00 - 09:30 Basic policy
09:30 - 10:00 Structure of the tax and parties subject to tax
10:00 - 10:45 Basic tax calculation
  • Scope 1 calculations (direct emissions - owned/controlled emissions)
  • Energy use
  • Non-energy industrial processes
  • 10:45 - 11:15 Coffee break
    11:15 - 12:00 Basic tax calculation
  • Scope 2 and 3 (indirect emissions - purchased and related emissions)
  • 12:00 - 12:30 Information gathering and reporting
    12:30 - 13:00 Allowances - overall allowances and limitations
    13:00 - 13:30 Trade exposure and performance allowances
    13:30 - 14:00 Compliance procedures
    14:00 - 14:45 Lunch
    14:45 - 15:15 Interdisciplinary considerations  
    15:15 - 16:30 Mini-groups for calculation discussions

    Presenters
    Duane Newman  

    Duane is a director of Cova Advisory & Associates. He is an accountant by training, with an expertise in grants, incentives and tax in the green economy. He has been involved in the carbon tax debate since 2008 and has advised numerous large organisations on understanding the impact of carbon tax on their business. Prior to founding Cova, he was a partner at Deloitte for 12 years, where he set up and led the sustainability and climate change division.
    Duane is currently Chairman of American Chamber of Commerce tax forum, chairman of the Tax Incentives committee at SAIT, and Vice chairman of the Incentive Consultants Association. Duane qualified as a Chartered Accountant with SAICA and is a registered Master Tax Practitioner with SAIT. He is regularly quoted in the press and writes for several publications on his areas of expertise including carbon tax and incentives

    Joslin Lydall 

    Joslin an experienced manager at Cova Advisory & Associates. She is a climate change and energy consultant with over 7 years experience in providing tailor-made climate-change solutions to companies in Africa. Involved in the carbon tax debate since 2010, Joslin has assisted many companies to determine their carbon footprint and respond to the CDP.
    She is a qualified Chemical Engineer and a Certified Measurement and Verification Professional for Energy and a Certified Energy Manager. Joslin has experience in devising and developing climate change and energy management strategies, accessing the Clean Development Mechanism and other energy and green incentives. 

    Andrew Gilder  

    Andrew is a senior associate at ENSafrica and has 16 years’ experience. He is South Africa’s leading climate change and carbon markets lawyer with more than a decade working in this highly dynamic area of the law. . He practices as an attorney in the Environmental Department and specialises in carbon markets and climate change law and policy, including law and policy applicable to Carbon Capture and Storage (CCS) projects, and a particular specialisation in the emerging regulatory framework for the imposition of carbon tax in South Africa, expected from mid-2016. 

    Mansoor Parker 

    Mansoor is an executive at ENSafrica in the tax department. He specialises in corporate tax, energy tax, sports tax, as well as the tax aspects of mergers and acquisitions and corporate restructurings. He has advised clients on the tax treatment of mergers and acquisition transactions (including taxable and tax-deferred transactions); infrastructure development projects, the availability and applicability of fiscal and cash incentives (offered by the Department of Trade and Industry) for investment in South Africa, cross-border tax from the perspective of both foreign inward investment into South Africa and domestic outward investment from South Africa, major sports events including the ICC Cricket World Cup 2003 and the 2010 FIFA World Cup South Africa. Mansoor also advises on compliance with applicable exchange control regulations.

    He is a member of the International Bar Association and the South African Fiscal Association.

    CPD

    This event and successful completion of the online assessment will secure 7 hours verifiable output CPD points/units.

    Including the following professional bodies. (SAICA, CIMA, SAIPA, SAIBA, ACCA, FPI, CSSA, LSSA, FISA, ICBA, IAC, AAT)

    Event Investment

    This event does not form part of the CPD subscription package.

    Member: R1550.00
    Non-member: R1990.00

    Click here to register for the seminar.

     

    Payments & Cancellations

    • All payments must be made by EFT or by credit card, at least 3 working days before commencement of an event.
    • Kindly note that should payment not been received 2 days after the event, legal action will be taken
    • Proof of payment will be requested at registration, if payment at that point in time has not been reflected on SAIT's bank account.
    • Only written notice of cancellation will be recognised.
    • Conditions:
      • If the cancellation occurs more than 30 days prior to the event no cancellation fee will be charged.
      • If the cancellation occurs less than 30 but more than 10 days prior to the event a 50% cancellation fee will apply.
      • If the cancellation occurs less than 10 days prior to the event a 100% cancellation fee will apply.
    • Delegates who book and fail to attend will be liable for the full event fee.
    • SAIT's liability in the case of an event being cancelled will be limited to a refund or credit of the event fee.
    • For our full terms and conditions, please click here.




    WHY REGISTER WITH SAIT?

    Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.

    MINIMUM REQUIREMENTS TO REGISTER

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