Finance Act 2020
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Amendment of section 67 of Finance Act 2010 (natural gas carbon tax) | ||
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28. Section 67 of the Finance Act 2010 is amended with effect as on and from 1 May 2021— | ||
(a) by substituting the following subsection for subsection (1): | ||
“(1) Subject to the provisions of this Chapter and any regulations made under it, a duty of excise, to be known as natural gas carbon tax, shall be charged, levied and paid at the rate specified in column (2) of the Table to this subsection with effect as on and from the date specified in column (1) of that Table on all natural gas, other than natural gas subject to mineral oil tax under section 95 (1)(b) of the Finance Act 1999 , supplied in the State by a supplier. | ||
TABLE | ||
Rate of Natural Gas Carbon Tax | ||
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”, | ||
and | ||
(b) by substituting the following subsection for subsection (3): | ||
“(3) The rate of tax per megawatt hour at gross calorific value for natural gas specified in the Table to subsection (1) is in proportion to the emissions of CO2 from the combustion of natural gas.”. |
