On 27 May 2019, South Africa's National Treasury published a media statement on the publication of the Carbon Tax Act 2019 (Act No. 15 of 2019), which has been signed into law by the President and comes into effect from 1 June 2019. The rate of the carbon tax is SAR 120 per ton of carbon dioxide equivalent of greenhouse gas emissions and is to be increased after 31 December 2022 based on the amount of consumer price inflation. As provided in the release:
The Carbon Tax Act gives effect to …