Legislative updates July-August 2022

Carbon Tax Act 15 of 2009

The proposed change includes the rate of the carbon tax to be [R134] R144 per ton carbon dioxide equivalent of the greenhouse gas emissions of a taxpayer. Subsequent annual increases are provided on an increasing scale, considering the consumer price index and average exchange rate changes.

Annual increases are provided for on an increasing scale it is recommended that entities put strategies in place to reduce emissions.

To learn more about carbon tax, read here.

Amendments to Financial Intelligence Centre Act, 38 of 2001

Amendments proposed to Schedule 1: list of accountable institutions including, amongst others legal practitioners; certain activities related to companies, close corporations, and trusts; estate agents; exchange users; collective investment scheme managers; banks; insurance business; gambling; foreign exchange; credit providers; financial services providers and list of supervisory bodies and list of reporting institutions.

You can download the Financial Intelligence Centre Act here.

National Environmental Management: Biodiversity Act, 10 of 2004

The appointment of the Ministerial task team to identify and recommend voluntary exit options and pathways from the captive lion industry, for completion 31 March 2023, is available here.

Draft African Penguin biodiversity management plan available here. Comments before 21 August 2022.

Draft game meat strategy available here. Comments before 29 August 2022.