South Africa Introduces Tax Against Polluters

President Ramaphosa has signed the carbon tax Act against polluters into law, targeting companies that emit greenhouse gases.* Considered one of the world’s worst polluters, South Africa has enacted a law that imposes a carbon tax on polluters. The measure, which affects all domestic and foreign companies operating in the country, could extend to 2022. The tax imposed is expected to be revalued each year by the margin of inflation. However mining companies, steelmakers and Eskom believe the move will erode profits.