Framework to help emitters cope with carbon tax delayed, details could take a year: Tan See Leng

2 weeks ago 47

Updated

Apr 03, 2024, 03:57 PM

Published

Apr 03, 2024, 03:35 PM

SINGAPORE – A framework meant to help carbon tax-liable firms cope with the higher tax rate that kicked in from 2024 is still in the works.

Details of the carbon tax transition framework, first announced in 2022 alongside news of the carbon tax increase, were meant to be released by the Economic Development Board (EDB) in the second half of 2023, according to the website of the National Environment Agency (NEA), which administers the carbon tax regime in Singapore.

But in Parliament on April 3, Second Minister for Trade and Industry Tan See Leng said more details on the framework will be revealed “in about a year”.

“Because this is really a developing framework and the companies that we are engaging are also looking at international benchmarks... in about a year from now, I think we will be able to give you a better, clearer indication. I seek your patience on this,” he said.

He was responding to a question from Workers’ Party MP He Ting Ru (Sengkang GRC) who asked for an update on the framework.

Singapore’s carbon tax regime was first implemented from 2019, with an initial tax rate of $5 per tonne of greenhouse gas emissions. This tax rate ...

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