Moore Cape Town and GCX Collaborate on Carbon Tax to Provide a Unique Solution to a Unique Tax

In our August newsletter we published an in-depth article “Examining the Carbon Tax in South Africa”. In short, the article set out to clarify and discuss the pending tax implications of the Carbon Tax Act No.15 of 2019.
Since then, Moore Cape Town has entered into a collaboration agreement with a unique and specialised firm, Global Carbon Exchange (“GCX”). GCX is an environmental resource advisory firm that has been assisting numerous clients in developing and monitoring their respective Greenhouse Gas (“GHG”) Emissions. GCX has furthermore been assisting clients to understand and comply with the National GHG Emissions Reporting Regulations (“NGER”).
GCX is a well-known and respected firm with reputable clients such as Pick n Pay, Clicks, Truworths, Discovery, Growthpoint, V&A Waterfront, Pioneer Foods, Sun International, Sea Harvest, Emira Properties, First Quantum Minerals, Massmart and more.
With the enactment of the Carbon Tax Act No.15 of 2019 and the first reporting deadline for Carbon Tax liability during July 2020, numerous clients have been asking not only how Carbon Tax is calculated, but also how to effectively monitor their GHG emissions for sustainable reporting and to project financial liabilities for budgeting purposes. We have seen a large increase in renewable energy projects, as the feasibility of these projects have become all the more favourable once these additional taxes and administrative costs are incorporated into the calculation of the project break-even point.
Moore Cape Town and GCX, in fact, have a long-standing business relationship in the sustainability industry (some of our avid long-time readers will recall our previous collaborations with GCX). Through the Moore structured network of tax experts and compliance officers and the information and technology advanced by GCX, our partnership has created a truly unique service offering in relation to NGER and Carbon Tax compliance and liability assessments.
By engaging with the Moore Cape Town and GCX partnership, our clients will extract significant synergy benefits when it comes to their NGER and Carbon Tax compliance and liability requirements. The GCX team has the GHG emissions analysis and reporting expertise, while Moore Cape Town has the expertise and compliance resources to not only register taxpayers for Carbon Tax and submit the Carbon Tax returns, but also issue a Findings Certificate which will include an estimated Carbon Tax liability for the taxpayer.
If you would like more information on whether or not Carbon Tax could impact your business, how to monitor your emissions and calculate your Carbon Tax liability, you are welcome to contact your nearest Moore firm.