The South African Ministry of Finance recently announced that it will impose a "carbon tax" on polluting companies in 2013. The South African Ministry of Finance stated in its newly released budget for 2012–2013 that 60% of the carbon dioxide emitted by all polluting companies, including electricity, petroleum, steel, and aluminum, would not be taxed, but this would need to meet certain conditions. At the same time, in addition to power companies, other companies can apply for tax exemption for the other 10% of their carbon dioxide emissions. According to the requirements, if the carbon emissions exceed the defined conditions, the relevant companies will be required to pay 120 rand (not more than 16 US dollars) per ton of carbon dioxide equivalent tax. This policy will be implemented from 2013 to 2014, and the "carbon tax" will increase by 10% annually until 2020.
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