South Africa Postpones Environmental Tire Levy

South Africa Postpones Environmental Tire Levy

According to a disclosure by the South Africa’s National Treasury, the environmental tire levy will not be introduced until February 1, 2017, instead of from October 1 as had been planned. The reason for the postponement is to allow time for the South African Revenue Service to conduct further consultations with all affected parties on the practical arrangements for its implementation.

The Government announced in the 2015/16 Budget that an environmental levy to encourage tire recycling would be introduced at a rate of ZAR2.30 (USD0.17) per kilogram. Revenues from the levy are to be deposited into the National Revenue Fund, and an allocation will be made available through the budget of the Department of Environmental Affairs for the recycling of waste tires.

All producers and importers of tires will be required to fully participate in the implementation process.

 

Article source: Tax – News http://www.tax-news.com/news/South_Africa_Postpones_Environmental_Tire_Levy____72314.html#sthash.9OiCdGdw.dpuf