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Singapore

Carbon Pricing Act no 23/2018

legislation type Legislative
Law
Passed in 2018
This law requires the reporting of and the payment of a tax in relation to greenhouse gas emissions, and amends the Energy Conservation Act

The 2018 budget law stipulated that Singapore will impose a carbon tax entering into force in 2019. All facilities producing 25,000 tonnes or more of greenhouse gas emissions in a year will have to pay a carbon tax. The carbon tax will initially be S$5 per tonne of greenhouse gas emissions from 2019 to 2023. The Government will review the carbon tax rate by 2023, with plans to increase it to between S$10 and S$15 per tonne of emissions by 2030. The the 2022 budget, presented by the government in March 2022, considerably hikes these figures. The tax should be put at S$25 in 2024 and 2025, and S$45 in 2026 and 2027. The 2030 target now stands at between S$50 and S$80.

Documents

  • Implementation of carbon tax on all facilities producing 35,000 tonnes or more of GHG emissions in a year
    Economy-wide
from the Grantham Research Institute
from the Grantham Research Institute
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