Singapore legislation
Section 16
Section 16
Carbon tax
(1)
A tax, called the carbon tax, is charged on the total amount of reckonable GHG emissions of a taxable facility of a registered person in a reporting period, as is set out in an emissions report or the part of an emissions report for the reporting period that is verified under section 12 and approved by the Agency, respectively.
(2)
Subsection (1) does not apply if the total amount of the reckonable GHG emissions in that reporting period does not attain the second emissions threshold.
(3)
The amount of the tax charged under subsection (1) is calculated based on the formula A × B, where —
A is the carbon dioxide equivalence of the total amount of the reckonable GHG emissions mentioned in subsection (1), rounded up to the nearest metric tonne; and
B is the carbon tax rate specified in Part 1 of the Third Schedule.
(4)
The tax charged under subsection (1) accrues as a liability of the registered person at the end of the reporting period in question, and must be paid by the registered person in accordance with this Part.