Singapore legislation

Clause 41

Amendment of Third Schedule

In the Third Schedule to the principal Act —

(a)

in Part 1, delete paragraph 1 and substitute —“1. The carbon tax rate is as follows:

(a)

for carbon tax for GHG emissions in 2023 or any earlier emissions year — $5/tCO2e;

(b)

for carbon tax for GHG emissions in 2024 or 2025 — $25/tCO2e;

(c)

for carbon tax for GHG emissions in 2026 or any later emissions year — $45/tCO2e.”; and

(b)

in Part 2, delete paragraph 1 and substitute —“1. Subject to section 31A, a fixed-price carbon credit has a value as follows:

(a)

for any fixed-price carbon credit purchased in 2024 or any earlier year — $5;

(b)

for any fixed-price carbon credit purchased in 2025 or 2026 — $25;

(c)

for any fixed-price carbon credit purchased in 2027 or any later year — $45.”.