As Ghana takes major steps to tackle climate change by imposing a Combustion Tax [Emissions Levy Act, 2023, (Act 112)] on vehicles and machinery in important sectors, we must critically analyze the efficacy of such tax-based method as respond to the climate crisis. While taxation can induce behavioral change and fund environmental projects, it is critical to investigate whether it effectively tackles the core causes of climate change and promotes long-term solutions.
Join us for an informative conversation in which we will question the existing quo and explore alternate options for climate mitigation. This event intends to widen our perspective on effective climate solutions beyond taxation by reinventing policy frameworks, fostering innovation, and engaging the community.
The discussion would explore the following areas
- The Pros and Cons of tax-based strategies for addressing fundamental environmental issues.
- Exploring free market approaches to address the social, economic, and environmental aspects of climate change.
- Leveraging technology and innovation to support sustainable development in Ghana and beyond.
- Engaging stakeholders and communities in participative decision-making to drive meaningful climate action.
Whether you’re a policymaker, industrial leader, environmental advocate, or concerned citizen, this event welcomes you to participate in a nuanced discussion about creating a more resilient and equitable future for our planet.
Date: 21st March 2024
Time: 19:00 UTC
Speakers
Dr. Julia Baum
She is the founder of PLC Network and Conservation Economy Consultant. She developed her passion for social-ecological systems thinking and storytelling in South Africa during her doctorate research and subsequent diverse entrepreneurial endeavours, especially when engaging with stakeholders for conservation impact. She is striving to implement functioning conservation economies that are transformative and inclusive. Julia has published several scientific articles on this topic.
Asamoah Kwaku Junior
He holds a bachelor’s degree in Economics from the Kwame Nkrumah University of Science and Technology. He is a researcher at the Centre for Economic Freedom Policy and a policy scholar at the YAFO Institute. He has successfully participated in the African Journalists for Economic Opportunity Training (AJEOT), a free market training in Ghana. He is also the development Manager at Yafo Institute and liaises with the entire team to oversee growth projects by creating development plans and identifying market opportunities.
Background
The Emissions Levy Act, 2023, Act 1112, was effective from 1 February 2024 after being passed by the Parliament of Ghana. The Act levies a tax on carbon dioxide equivalent emissions from specific industries, as well as vehicle combustion emissions. The Act was passed in response to the tax reforms proposed by the government in the 2024 Budget Statement and Economic Policy. It intends to generate cash to fund various sector reforms while also promoting the green economy in Ghana.
The Act imposes the Levy on carbon dioxide equivalent emissions from specific sectors and vehicle emissions at stipulated rates, as shown in the schedule below:
The Levy is estimated as the total of a person’s greenhouse gas emissions (GHG), expressed as the carbon dioxide equivalent1 of GHG produced by fuel combustion, industrial activities, and fugitive emissions.
A taxpayer subject to the Levy in the sector mentioned in the Schedule must submit a monthly return to the Commissioner General (CG), detailing the amount of emissions and levy payable. The return must be submitted by the last business day of the month immediately succeeding.
The Levy assessed must be remitted to the CG by the last working day of the month immediately succeeding the month to which the assessment relates.
If a person is subject to a Levy on motor vehicles as defined in the Schedule, the person must pay the Ghana Revenue Authority on or before the renewal of the road-use certificate.
Before issuing a road-use certificate, anyone who is obligated to do so must request for proof of payment of the emission levy.
