Coming soon.........
Whenever you buy something, petrol, electricity, food etc there'll be a stamp stating the percentage of 'carbon credit' if u exceed your limit you PayAndPay.......
A carbon credit means —
(a) a certificate representing an amount of greenhouse gas emissions reduction or removal, generated from any project or programme, and includes a certificate representing the avoidance of an amount of such emissions;
(b) a right to emit any greenhouse gas; or
(c) a means to satisfy any tax or regulatory obligation arising from the emission of any greenhouse gas,
and includes a carbon credit issued by the National Environment Agency (NEA) for businesses to meet their carbon tax obligations in Singapore.
Carbon credits are issued/ verified by government registries or independent standards/registries such as Verra, Gold Standard, Climate Action Reserve and American Carbon Registry. Each verified carbon credit would be issued with a unique serial number; hence it is not an unallocated commodity for the purpose of GST.
Whenever you buy something, petrol, electricity, food etc there'll be a stamp stating the percentage of 'carbon credit' if u exceed your limit you PayAndPay.......
A carbon credit means —
(a) a certificate representing an amount of greenhouse gas emissions reduction or removal, generated from any project or programme, and includes a certificate representing the avoidance of an amount of such emissions;
(b) a right to emit any greenhouse gas; or
(c) a means to satisfy any tax or regulatory obligation arising from the emission of any greenhouse gas,
and includes a carbon credit issued by the National Environment Agency (NEA) for businesses to meet their carbon tax obligations in Singapore.
Carbon credits are issued/ verified by government registries or independent standards/registries such as Verra, Gold Standard, Climate Action Reserve and American Carbon Registry. Each verified carbon credit would be issued with a unique serial number; hence it is not an unallocated commodity for the purpose of GST.
