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Will SA walk The Aussie Route?

26 July 2013   (0 Comments)
Posted by: Author: Ingé Lamprecht
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Author: Ingé Lamprecht (MoneywebTax)

Carbon tax or emissions trading?

Any carbon tax introduced in South Africa would need to be revenue-neutral in order to bring about the desired changes in attitude around the environment.

Ross Robertson, carbon tax specialist at Norton Rose Fulbright, says the introduction of the carbon tax as proposed by National Treasury in a second policy paper earlier this year, should encompass a sophisticated revenue neutrality mechanism.

This would allow for mechanisms that could offset any potential increase in costs (such as fuel and electricity) as a result of the introduction of the carbon tax by lowering for example personal, corporate and indirect tax rates.

"Such that for every one rand you previously had, you now still have one rand - you are not worse off, and in that way one is able to turn what is ordinarily a regressive economic instrument in the form of a tax, into a progressive tax," he says.

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