Government Yet To Finalise Carbon Tax Rate - Amir Hamzah
KUALA LUMPUR, Nov 6 (Bernama) -- The government has yet to determine an appropriate rate for the carbon tax, which is scheduled for implementation next year, said Finance Minister II Datuk Seri Amir Hamzah Azizan.
He said the rate would only be decided after the National Climate Change Bill (RUUPIN), to be tabled by the Ministry of Natural Resources and Environmental Sustainability, is presented and passed in Parliament next year.
“We have to wait for RUUPIN because we need a standard methodology to calculate emissions and establish a benchmark. Only when emissions exceed that benchmark will the carbon tax be applied.
“At present, the Ministry of Finance has not conducted an in-depth study to determine the appropriate carbon tax rate. The baseline under RUUPIN must first be established,” he told reporters after officiating the ASEAN Capital Market Forum International Conference today.
Amir Hamzah was responding to international media reports claiming Malaysia would impose a carbon tax rate of RM15 per tonne starting next year.
He dismissed the report as speculative, saying the government has not finalised any specific rate.
He added that once RUUPIN is approved, the government will conduct a detailed assessment before setting the carbon tax rate.
The evaluation will include a review of major industries such as iron, steel, and utilities, which are among the country’s largest carbon emitters.
-- BERNAMA