Regulations Governing the Collection of Carbon Fees

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August 2024, Taiwan's Ministry of Environment (MOENV) announced three carbon fee related regulations that establish a carbon pricing system. The first regulation, entitled “Regulations Governing the Collection of Carbon Fees”, outlines how the carbon fees will be collected from entities.
Scope: 
Entities subject to carbon fees: Power and gas supply industries, along with manufacturing industries emitting 25,000 metric tons or more of CO2e annually, will be subject to carbon fees.
Payment Timing: 
Starting from the year after the fee rate takes effect, entities must pay carbon fees annually by the end of May. Payment is based on the total emissions of the preceding year, calculated using the announced rates. For instance, if the rates become effective on January 1, 2025, then payment for emissions during 2025 would be due by May 2026.
Transitional Adjustment Mechanism: 
To ease the transition, a mechanism adjusts chargeable emissions, particularly for industries susceptible to carbon leakage, through an adjustment coefficient that increases over time. The emission adjustment coefficient value for the first period is 0.2, 0.4 for the second, and 0.6 for the third period.
Carbon credits: 
Entities can utilize both domestic and carbon credits. Domestic credits can offset up to 10% of chargeable emissions. International credits require MOENV approval and can only be used by industries not considered high risk for carbon leakage.
Implementation Timeline:
Following a trial declaration without payment in 2025, payments based on 2025 emission levels will commence in 2026. The fee rate, to be determined by October 2024 and effective from January 1, 2025, will be reviewed annually.

Regulations Governing the Collection of Carbon Fees 

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A long-lived, colourless gas, chiefly emitted from fossil fuel combustion, deforestation and cement production.

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This sector involves the wholesale and retail selling of goods.

Any compulsory, unrequited payment to the government levied on corporations or individuals. This can be for environmental reasons, such as introducing a Carbon tax to set a price that emitters must pay for the greenhouse gases they emit.

Either money or something of monetary value is transferred between two or more organisations, people or countries.

The release of heat-trapping gases, primarily from human activities such as burning fossil fuels, agriculture and industry.

Compulsory, required payments to the government that are levied more-or-less in proportion to the services provided. Fees and charges range from entrance fees to national parks, charges on land-based sewage discharge.

Regulations Governing the Collection of Carbon Fees

Policy instrument

Greenhouse gas

Economic sector

Finance