LEVYING Carbon tax has become a fad, and it has surged across
the world thus helping businesses and environment. It is expected that from 2013
at least 33 countries and 18 sub national jurisdictions will be operating on
Carbon pricing schemes. This would cover around 850 million people 30% of the
Global economy and 20% of Global emissions.
A
price on Carbon has been introduced in two stages:
+
From 1 July 2012 to 30 June 2015 – the price of carbon units is fixed by
Government (the fixed price period)
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From 1 July 2015 onwards, the market will determine the price of carbon units
(the flexible price period)
Many
countries including EU 27 member states along with Iceland, Liechtenstein and
Norway had already made a beginning. Australia, California and Quebec as well
launched its carbon tax in July 2012. China has also geared itself for Carbon
tax in seven key provinces from next year.
Besides, South Africa is in a row to introduce a carbon tax next year.
Japan and South Korea have already passed legislation for April and May.
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