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A tax introduced by President Cyril Ramaphosa from 1st June 2020 in terms of the Carbon Tax Act (15 of 2019). In terms of this Act, companies will be taxed at the rate of R120 per ton of carbon emitted, but various allowances bring that figure down to about R46 per ton for the first three years. The objective of the tax is to gradually reduce South Africa's carbon footprint. It is seen as negative for certain industries such as the motor industry. Carbon tax aims to eventually eliminate carbon emissions from South Africa.