8. Allowance for industrial process emissions

(1)     A taxpayer that conducts an activity in respect of industrial process emissions that is listed in Schedule 2 in the column “Activity of Sector” must receive an allowance in respect of those emissions, determined in terms of subsection (2).

(2)     The percentage of the allowance referred to in subsection (1) must be 10 per cent of the total greenhouse gas emissions in respect of a tax period in respect of that activity.

[Subsection (2) substituted by section 95(1) of Act 34 of 2019 deemed effective on 1 June, 2019]