In the 2022 draft Taxation Laws Amendment Bill, a number of proposals were made regarding amendments to the Carbon Tax Act 15 of 2019. The most significant proposal related to an increase in the carbon tax rate from 2023 onwards. The proposals were made against the backdrop of the announcement in the 2022 Budget Review(see our 2022 Special Edition Budget Speech Alert) that Phase 1 of the carbon tax would be extended until the end of 2025 and would not come to an end on 31 December 2022, as was previously stated.
