$1b in carbon tax for S'pore expected from first 5 years of scheme

Singapore was the first country in South-east Asia to implement a carbon tax on Jan 1, 2019. ST PHOTO: ALPHONSUS CHERN
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SINGAPORE - Singapore has so far collected two years' worth of carbon taxes from large emitters in the country, with a total of $1 billion in revenue expected in the first five years of the scheme.

The current carbon tax rate, which will be in place until 2023, is $5 per tonne of emissions. The revised rate for 2024 will be announced during next month's Budget, which will also indicate what to expect up to 2030.

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