Singapore expects its carbon tax revenue to triple in 2024 amid a five-fold hike in tax rate last year, the Straits Times reported Tuesday.
- Carbon tax revenue projected to reach S$624 million compared with annual average of around S$200 million when the tax rate was S$5 per ton of emissions from 2019 to 2023, the newspaper reported, without citing the source of the information
- Despite the tax hike, 2024 proceeds were lower than expected, possibly due to allowances given to trade-exposed emitters to help them to remain competitive
- NOTE: in 2021,
Singapore Expects About S$1b Revenue From Carbon Tax by ...
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