Malaysia has not finalised its carbon tax rate, with the government awaiting passage of the National Climate Change Bill before setting emissions benchmarks.
KUALA LUMPUR: The government has not yet determined an appropriate rate for the carbon tax scheduled for implementation next year.
Finance Minister II Datuk Seri Amir Hamzah Azizan said the rate would only be decided after the National Climate Change Bill (RUUPIN) is presented and passed in Parliament.
“We have to wait for RUUPIN because we need a standard methodology to calculate emissions and establish a benchmark,” he told reporters after officiating the ASEAN Capital Market Forum International Conference.
“Only when emissions exceed that benchmark will the carbon tax be applied.”
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Amir Hamzah responded 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, confirming the government has not finalised any specific rate.
The Ministry of Finance has not conducted an in-depth study to determine the appropriate carbon tax rate yet.
The baseline under RUUPIN must first be established before any tax rate can be set.
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.
These sectors are among the country’s largest carbon emitters. – Bernama
