Carbon Pricing (Carbon Tax, Carbon Credits and Registries) Regulations 2020.

These Regulations are enacted in accordance with the Carbon Pricing Act 2018.
The Regulations outline the procedures for the surrender of eligible international carbon credits to pay carbon tax, as well as the requirements for the acceptance of these credits by the Agency. The Regulations also specify criteria for international carbon credits to be eligible for tax payment, including that the certified greenhouse gas (GHG) emissions reductions must not be counted more than once, must exceed any legal requirements of the host country, and must be verified by an independent third party. Additionally, the credits must represent reductions that are not reversible and must not result in increased emissions elsewhere. Furthermore, the regulations set a prescribed limit on the number of eligible international carbon credits that can be surrendered for tax payment, calculated based on the carbon dioxide equivalence of emissions. The Regulations emphasize transparency, accountability, and adherence to international agreements, aiming to promote effective carbon management and environmental sustainability in Singapore.