13. Offset allowance

(1)     Subject to subsection (2), a taxpayer may reduce the amount in respect of the carbon tax for which the taxpayer is liable in respect of a tax period by utilising carbon offsets as prescribed by the Minister.

[Subsection (1) substituted by section 97(1) of Act 34 of 2019 deemed effective on 1 June, 2019]

(2)     The reduction of the liability for the carbon tax allowed in terms of subsection (1) must not exceed so much of the percentage of the total greenhouse gas emissions of a taxpayer in respect of a tax period as is determined by matching the line in the column “Activity of Sector” with the percentage in the corresponding line of the column “Offsets allowance %” in Schedule 2.