On 28 March 2023, the South African Revenue Service (SARS) informed, with retrospective effect from 01 January 2024, of the increase of R31 per tonne in the rate of environmental levy on carbon dioxide equivalent from R159 to R190 per tonne in Part 3F of Schedule No.1 to the Customs and Excise Act, 1964, by an to give effect to the Budget proposals announced by the Finance Minister on 21 February 2024.
The Environmental Levy amendments are:
- 157.01 9903.00.10 Fuel combustion R190.00/t CO₂ e emissions
- 157.03 9903.00.30 Fugitive R190.00/t CO₂ e emissions
- 157.05 9903.00.50 Industrial processes R190.00/t CO₂ e emissions