South Africa: Proposed environmental tax amendments

Include 150% capital allowance for assets related to electric and hydrogen vehicle production

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December 2, 2024

The National Treasury on October 26, 2024, published the Draft Taxation Laws Amendment Bill (B16-2024), which includes the following proposed environmental tax amendments:

  • 150% capital allowance for assets related to electric and hydrogen vehicle production
  • Updates to carbon tax emission factors

The bill has been introduced to Parliament but must still pass through the parliamentary approval process and be promulgated before becoming effective.

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