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Carbon emissions tax nets R2.3bn

Wednesday, 04 July 2012   (0 Comments)
Posted by: SAIT Technical
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By I-net Bridge (Business Report)

Finance Minister Pravin Gordhan says that R2.384 billion has been collected since the imposition of the carbon emissions tax on September 1 2010.

In a written reply to a Parliamentary question from Democratic Alliance MP Darryl Worth‚ Gordhan said that for the period September 1 2010 to March 31 2011 R625.89 million had been collected‚ from April 1‚ 2011 to March 31‚ 2012 R1.617 billion was collected and from April 1 2012 to April 30 2012 R141.38 million had been collected.

The tax is imposed on carbon dioxide emissions above 120 grams per kilometre (g/km) at R75 per g/km for passenger vehicles; and‚ for double cabs‚ at R100 per g/km for carbon dioxide emissions above 175 g/km.

Gordhan said the revenue from the vehicle tax formed part of the national revenue fund‚ which was the government's general revenue fund and was not earmarked for specific expenditure programmes.



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