# Singapore: a S$45 carbon tax, with up to 5% paid in international credits

_Last checked 2026-11-12 · https://asiacarbondesk.com/singapore-carbon-tax/_

Southeast Asia's first carbon price. About 50 large facilities pay S$45 per tonne of CO2e for 2026–27, and may use eligible international credits for up to 5% of their taxable emissions. Supply of those credits is still being built.

## Key facts

- Tax rate 2026–27: S$45 (per tCO2e · was S$25 in 2024–25 (+80%))
- Share of national emissions: ~70% (covered by the carbon tax)
- Taxable facilities: ~50 (each emitting ≥25,000 tCO2e a year)
- International credit limit: 5% (of taxable emissions, from 1 Jan 2024)
- Implementation agreements: 12 (signed; 9 in force; 0 projects registered yet)
- 2030 ambition: S$50–80 (per tCO2e; post-2027 path under review)

## In brief

- The carbon tax is S$45 per tonne CO2e for 2026 and 2027, up from S$25 in 2024–25 and S$5 in 2019–23; the Government aims for S$50–80 by 2030.
- It applies to about 50 facilities emitting 25,000 tCO2e or more a year and covers around 70% of national greenhouse gas emissions.
- Facilities may offset up to 5% of taxable emissions with eligible international carbon credits, but as of 2 November 2026 no project is yet registered under the 12 signed agreements.
- Unused 2025 credit quota rolls into 2026 at a conversion factor of 25/45; the 2024 quota expired.

## Carbon tax rate by emissions year, with the 2030 ambition (S$ per tCO2e)

| Period | Carbon tax rate |
|---|---|
| 2019 | 5 |
| 2020 | 5 |
| 2021 | 5 |
| 2022 | 5 |
| 2023 | 5 |
| 2024 | 25 |
| 2025 | 25 |
| 2026 | 45 |
| 2027 | 45 |
| 2028 | — |
| 2029 | — |
| 2030 | — |

## Implementation agreements signed, cumulative (end of year)

| Period | agreements |
|---|---|
| 2023 | 1 |
| 2024 | 2 |
| 2025 | 10 |
| 2026 | 12 |

## Share of national emissions covered by the carbon tax (%)

| Period | % |
|---|---|
| 2019 | 80 |
| 2022 (pre-rebasing) | 76 |
| 2022 (rebased) | 71 |
| 2026 | 70 |

## From the 2018 Act to the 2030 ambition

| Date | Event |
|---|---|
| 2018-03-20 | Parliament passes the Carbon Pricing Act. |
| 2019-01-01 | Carbon tax starts at S$5 per tCO2e, the first carbon pricing scheme in Southeast Asia. |
| 2020 | First tax payments, based on 2019 emissions. |
| 2022-02-18 | Budget 2022 announces the rate path: S$25 in 2024–25, S$45 in 2026–27, S$50–80 by 2030. |
| 2022-11-08 | Carbon Pricing (Amendment) Act 2022 passed; allows international credits up to a limit. |
| 2024-01-01 | Rate rises to S$25; facilities may offset up to 5% of taxable emissions with international credits. |
| 2025-10-06 | Mongolia signs an implementation agreement. |
| 2026-01-01 | Rate rises to S$45 for 2026 and 2027. |
| 2026-09-04 | Lao PDR signs an implementation agreement, the 12th. |
| 2027-09-30 | Payment deadline for 2026 emissions (rule: 30 September of the following year). |
| 2030 | Government ambition: S$50–80 per tCO2e. |

## How the tax is paid

| Step | What happens |
|---|---|
| Register | By 30 June of the year after the facility first passes the threshold. |
| Plan and measure | Monitoring Plan by 31 December of that year; direct (Scope 1) emissions measured. |
| Report | Third-party verified Emissions Report by 30 June of the following year. |
| Pay by 30 September | Pay by surrendering fixed-price carbon credits bought from the Government. |
| Optional offset | Up to 5% of taxable emissions may be covered with eligible international credits. |

## Who is covered

| Item | Rule |
|---|---|
| First threshold (reportable) | 2,000 tCO2e — measure and report only; no tax |
| Second threshold (taxable) | 25,000 tCO2e — verified report plus carbon tax |
| Sectors | Manufacturing; power, gas, steam and chilled water supply; water, sewage and waste |
| Gases | 7 greenhouse gases: CO2, CH4, N2O, HFCs, PFCs, SF6, NF3 |
| Emissions counted | Direct (Scope 1) emissions from fuel combustion and industrial processes |
| Not taxed separately | Petrol, diesel and CNG: excise duties apply instead |
| Facilities taxed | About 50 |
| Share of national emissions | Around 70% (about 80% with transport-fuel excise) |

## International carbon credits (ICC) at a glance

| Item | Status |
|---|---|
| Offset limit | Up to 5% of taxable emissions, from 1 January 2024 |
| Quality test | Article 6 compliance plus seven integrity principles |
| Credit window | Reductions or removals between 1 Jan 2021 and 31 Dec 2030 |
| Where from | Only host countries with an implementation agreement |
| Agreements signed | 12 (CMC FAQ, 2 Nov 2026); NEA's page, updated 19 Aug 2026, says 11 |
| Agreements in force | 9 of 12 (all except Paraguay, Papua New Guinea, Philippines) |
| Countries with an eligibility list | 6: Ghana, Bhutan, Peru, Rwanda, Thailand, Mongolia |
| Projects registered | 0 (as of 2 Nov 2026) |
| Time to first credits | Up to four years per project |
| Retirement registries | 5: ACR, ART, Global Carbon Council, Gold Standard, Verra |
| Roll-over | 2024 quota expired; unused 2025 quota carries to 2026 × 25/45 (example: 4,000 → 2,222) |
| Proceeds / cancellation | 5% of proceeds to adaptation; 2% of authorised credits cancelled |

## All figures

| Item | Value | Source | Checked |
|---|---|---|---|
| Carbon tax rate, emissions years 2019-2023 | S$5/tCO2e | [Singapore Statutes Online, Attorney-General's Chambers](https://sso.agc.gov.sg/Act/CPA2018?WholeDoc=1) | 2026-11-12 |
| Carbon tax rate, emissions years 2024-2025 | S$25/tCO2e | [Singapore Statutes Online, Attorney-General's Chambers](https://sso.agc.gov.sg/Act/CPA2018?WholeDoc=1) | 2026-11-12 |
| Carbon tax rate, emissions year 2026 onwards (stated for 2026-2027) | S$45/tCO2e | [Singapore Statutes Online, Attorney-General's Chambers](https://sso.agc.gov.sg/Act/CPA2018?WholeDoc=1) | 2026-11-12 |
| 2030 rate ambition (current) | S$50-80/tCO2e by 2030 | [National Climate Change Secretariat (NCCS)](https://www.nccs.gov.sg/singapores-climate-action/mitigation-efforts/carbontax/) | 2026-11-12 |
| 2030 ambition, lower bound | S$50/tCO2e | [Ministry of Finance (MOF)](https://isomer-user-content.by.gov.sg/153/2df7e174-4cfc-4cfe-9929-d28186d8299f/fy2022_budget_statement.pdf) | 2026-11-12 |
| 2030 ambition, upper bound | S$80/tCO2e | [Ministry of Finance (MOF)](https://isomer-user-content.by.gov.sg/153/2df7e174-4cfc-4cfe-9929-d28186d8299f/fy2022_budget_statement.pdf) | 2026-11-12 |
| 2030 ambition as set in Budget 2018 (superseded) | S$10-15/tCO2e by 2030 | [Ministry of Finance (MOF)](https://isomer-user-content.by.gov.sg/153/6519d8ac-65b5-49fb-a663-a037c5e5e8e5/fy2018_budget_statement.pdf) | 2026-11-12 |
| Fixed-price carbon credit (FPCC) value by purchase year | S$5 (bought 2024 or earlier); S$25 (2025-26); S$45 (2027 onwards) | [Singapore Statutes Online, Attorney-General's Chambers](https://sso.agc.gov.sg/Act/CPA2018?WholeDoc=1) | 2026-11-12 |
| Post-2027 trajectory status | Under review; future rates to be announced in advance | [NCCS / Prime Minister's Office](https://www.nccs.gov.sg/media/parliamentary-reply-by-dpm-gan-on-singapore-s-carbon-tax-trajectory-from-2028/) | 2026-11-12 |
| Carbon Pricing Bill first reading | 2 March 2018 | [Singapore Statutes Online, Attorney-General's Chambers](https://sso.agc.gov.sg/Act/CPA2018?WholeDoc=1) | 2026-11-12 |
| Carbon Pricing Act passed (second and third readings) | 20 March 2018 | [Singapore Statutes Online, Attorney-General's Chambers](https://sso.agc.gov.sg/Act/CPA2018?WholeDoc=1) | 2026-11-12 |
| Carbon Pricing Act commencement / tax start | 1 January 2019 | [Singapore Statutes Online, Attorney-General's Chambers](https://sso.agc.gov.sg/Act/CPA2018?WholeDoc=1) | 2026-11-12 |
| First carbon pricing scheme in Southeast Asia | Implemented 1 January 2019 | [National Climate Change Secretariat (NCCS)](https://www.nccs.gov.sg/singapores-climate-action/mitigation-efforts/carbontax/) | 2026-11-12 |
| First carbon tax payment | 2020, based on 2019 emissions | [Ministry of Finance (MOF)](https://isomer-user-content.by.gov.sg/153/6519d8ac-65b5-49fb-a663-a037c5e5e8e5/fy2018_budget_statement.pdf) | 2026-11-12 |
| Budget 2022 announcement of rate increases | 18 February 2022 | [Ministry of Finance (MOF)](https://www.mof.gov.sg/news-resources/newsroom/budget-2022-charting-our-new-way-forward-together/) | 2026-11-12 |
| Budget 2022 rate path | S$25 (2024-25), S$45 (2026-27), S$50-80 by 2030 | [Ministry of Finance (MOF)](https://isomer-user-content.by.gov.sg/153/2df7e174-4cfc-4cfe-9929-d28186d8299f/fy2022_budget_statement.pdf) | 2026-11-12 |
| Carbon Pricing (Amendment) Bill first reading | 3 October 2022 | [Singapore Statutes Online, Attorney-General's Chambers](https://sso.agc.gov.sg/Act/CPA2018?WholeDoc=1) | 2026-11-12 |
| Carbon Pricing (Amendment) Act 2022 passed | 8 November 2022 | [Singapore Statutes Online, Attorney-General's Chambers](https://sso.agc.gov.sg/Act/CPA2018?WholeDoc=1) | 2026-11-12 |
| Amended Regulations published | 6 October 2023 | [National Environment Agency (NEA)](https://www.nea.gov.sg/our-services/climate-change-energy-efficiency/climate-change/carbon-tax) | 2026-11-12 |
| Amendment Act commencement | 1 January 2024 | [Singapore Statutes Online, Attorney-General's Chambers](https://sso.agc.gov.sg/Act/CPA2018?WholeDoc=1) | 2026-11-12 |
| First emissions threshold (reportable facility) | 2,000 tCO2e | [Singapore Statutes Online, Attorney-General's Chambers](https://sso.agc.gov.sg/Act/CPA2018?WholeDoc=1) | 2026-11-12 |
| Second emissions threshold (taxable facility) | 25,000 tCO2e | [Singapore Statutes Online, Attorney-General's Chambers](https://sso.agc.gov.sg/Act/CPA2018?WholeDoc=1) | 2026-11-12 |
| Reportable facilities: measured and reported but not taxed | 2,000-<25,000 tCO2e: report only, no tax | [NCCS](https://www.nccs.gov.sg/media/opening-speech-by-masagos-zulkifli-minister-for-the-environment-and-water-resources-at-the-second-reading-of-the-carbon-pricing-bill-20-march-2018/) | 2026-11-12 |
| Taxable facilities: verified reporting plus tax | Monitoring Plan, third-party verified Emissions Report, carbon tax | [National Environment Agency (NEA)](https://www.nea.gov.sg/our-services/climate-change-energy-efficiency/climate-change/carbon-tax/measurement-and-reporting-requirements-for-greenhouse-gas-emissions) | 2026-11-12 |
| Covered sectors | Manufacturing; power/gas/steam/chilled water supply; water, sewage and waste | [National Environment Agency (NEA)](https://www.nea.gov.sg/our-services/climate-change-energy-efficiency/climate-change/carbon-tax) | 2026-11-12 |
| Number of covered greenhouse gases | 7 gases: CO2, CH4, N2O, HFCs, PFCs, SF6, NF3 | [National Climate Change Secretariat (NCCS)](https://www.nccs.gov.sg/singapores-climate-action/mitigation-efforts/carbontax/) | 2026-11-12 |
| Emissions basis | Direct (Scope 1) emissions from fuel combustion and IPPU | [National Environment Agency (NEA)](https://www.nea.gov.sg/our-services/climate-change-energy-efficiency/climate-change/carbon-tax) | 2026-11-12 |
| Transport fuels excluded from carbon tax | No additional carbon tax on petrol, diesel, CNG (excise duties apply) | [Ministry of Finance (MOF)](https://isomer-user-content.by.gov.sg/153/2df7e174-4cfc-4cfe-9929-d28186d8299f/fy2022_budget_statement.pdf) | 2026-11-12 |
| Number of taxable facilities | About 50 facilities | [National Climate Change Secretariat (NCCS)](https://www.nccs.gov.sg/singapores-climate-action/mitigation-efforts/carbontax/) | 2026-11-12 |
| Share of national GHG emissions covered by carbon tax | Around 70% | [National Climate Change Secretariat (NCCS)](https://www.nccs.gov.sg/singapores-climate-action/mitigation-efforts/carbontax/) | 2026-11-12 |
| Share covered by carbon tax plus transport fuel excise | About 80% | [National Climate Change Secretariat (NCCS)](https://www.nccs.gov.sg/singapores-climate-action/mitigation-efforts/carbontax/) | 2026-11-12 |
| Carbon tax coverage at introduction | Around 80% of national emissions | [National Climate Change Secretariat (NCCS)](https://www.nccs.gov.sg/singapores-climate-action/mitigation-efforts/carbontax/) | 2026-11-12 |
| 2022 coverage after HFC rebasing | Around 71% (from 76%) | [National Climate Change Secretariat (NCCS)](https://www.nccs.gov.sg/singapores-climate-action/mitigation-efforts/carbontax/) | 2026-11-12 |
| 2022 coverage before HFC rebasing | 76% | [National Climate Change Secretariat (NCCS)](https://www.nccs.gov.sg/singapores-climate-action/mitigation-efforts/carbontax/) | 2026-11-12 |
| Registration deadline | 30 June of the year after the trigger year | [National Environment Agency (NEA)](https://www.nea.gov.sg/our-services/climate-change-energy-efficiency/climate-change/carbon-tax) | 2026-11-12 |
| Emissions Report deadline | 30 June of the year following the reporting period | [National Environment Agency (NEA)](https://www.nea.gov.sg/our-services/climate-change-energy-efficiency/climate-change/carbon-tax/measurement-and-reporting-requirements-for-greenhouse-gas-emissions) | 2026-11-12 |
| Monitoring Plan deadline (taxable facilities) | 31 December of the year after the trigger year | [National Environment Agency (NEA)](https://www.nea.gov.sg/our-services/climate-change-energy-efficiency/climate-change/carbon-tax/measurement-and-reporting-requirements-for-greenhouse-gas-emissions) | 2026-11-12 |
| Tax payment deadline | 30 September of the year after the emissions year (or 30 days after notice, if later) | [Singapore Statutes Online, Attorney-General's Chambers](https://sso.agc.gov.sg/Act/CPA2018?WholeDoc=1) | 2026-11-12 |
| Payment instrument | Surrender of fixed-price carbon credits (FPCCs) bought from the Government | [Singapore Statutes Online, Attorney-General's Chambers](https://sso.agc.gov.sg/Act/CPA2018?WholeDoc=1) | 2026-11-12 |
| Notice of ICC Use submission window | 1 July of emissions year to 30 June of following year | [National Environment Agency (NEA)](https://www.nea.gov.sg/docs/default-source/carbon-credits/icc-guidance-document-v1-2_8jul2026.pdf) | 2026-11-12 |
| Transition framework (allowances) for EITE firms | From 2024; allowances based on efficiency benchmarks and decarbonisation plans | [National Climate Change Secretariat (NCCS)](https://www.nccs.gov.sg/singapores-climate-action/mitigation-efforts/carbontax/) | 2026-11-12 |
| Transition framework excludes new investments | New investments do not qualify | [National Climate Change Secretariat (NCCS)](https://www.nccs.gov.sg/singapores-climate-action/mitigation-efforts/carbontax/) | 2026-11-12 |
| Expected carbon tax revenue, first five years (2018 estimate) | Nearly S$1 billion (2019-2023) | [Ministry of Finance (MOF)](https://isomer-user-content.by.gov.sg/153/6519d8ac-65b5-49fb-a663-a037c5e5e8e5/fy2018_budget_statement.pdf) | 2026-11-12 |
| Net revenue from rate increase | No additional net revenue expected this decade | [National Climate Change Secretariat (NCCS)](https://www.nccs.gov.sg/singapores-climate-action/mitigation-efforts/carbontax/) | 2026-11-12 |
| Electricity tariff sensitivity | ~1% tariff rise per S$5/tCO2e increase | [National Climate Change Secretariat (NCCS)](https://www.nccs.gov.sg/singapores-climate-action/mitigation-efforts/carbontax/) | 2026-11-12 |
| Household impact of S$45 rate | About S$3/month for average 4-room HDB flat | [National Climate Change Secretariat (NCCS)](https://www.nccs.gov.sg/singapores-climate-action/mitigation-efforts/carbontax/) | 2026-11-12 |
| Household impact of S$25 rate (Budget 2022) | About S$4/month for average 4-room HDB household | [Ministry of Finance (MOF)](https://isomer-user-content.by.gov.sg/153/2df7e174-4cfc-4cfe-9929-d28186d8299f/fy2022_budget_statement.pdf) | 2026-11-12 |
| Regular U-Save rebate ceiling | Up to S$380/year | [National Climate Change Secretariat (NCCS)](https://www.nccs.gov.sg/singapores-climate-action/mitigation-efforts/carbontax/) | 2026-11-12 |
| Enhanced U-Save, FY2024 | Up to S$950 (2.5x regular) | [National Climate Change Secretariat (NCCS)](https://www.nccs.gov.sg/singapores-climate-action/mitigation-efforts/carbontax/) | 2026-11-12 |
| ICC offset limit | Up to 5% of taxable emissions, from 1 January 2024 | [National Environment Agency (NEA)](https://www.nea.gov.sg/our-services/climate-change-energy-efficiency/climate-change/carbon-tax) | 2026-11-12 |
| ICC environmental integrity principles | Article 6 compliance plus seven principles | [National Climate Change Secretariat (NCCS)](https://www.nccs.gov.sg/singapores-climate-action/mitigation-efforts/carbontax/) | 2026-11-12 |
| ICC vintage window | Reductions/removals between 1 Jan 2021 and 31 Dec 2030 | [Singapore's Carbon Markets Cooperation (Government of Singapore)](https://www.carbonmarkets-cooperation.gov.sg/environmental-integrity/eligibility-criteria/) | 2026-11-12 |
| ICCs only from IA host countries | Credits from non-IA countries not allowed | [Singapore's Carbon Markets Cooperation (Government of Singapore)](https://www.carbonmarkets-cooperation.gov.sg/frequently-asked-questions/general-information/) | 2026-11-12 |
| Implementation Agreements signed (NEA page, updated 19 Aug 2026) | 11 | [National Environment Agency (NEA)](https://www.nea.gov.sg/our-services/climate-change-energy-efficiency/climate-change/carbon-tax) | 2026-11-12 |
| Implementation Agreements signed (CMC FAQ, updated 2 Nov 2026) | 12: PNG, Ghana, Bhutan, Peru, Chile, Rwanda, Paraguay, Thailand, Mongolia, Vietnam, Philippines, Lao PDR | [Singapore's Carbon Markets Cooperation (Government of Singapore)](https://www.carbonmarkets-cooperation.gov.sg/frequently-asked-questions/general-information/) | 2026-11-12 |
| IAs entered into force | 9 of 12 (all except Paraguay, PNG, Philippines) | [Singapore's Carbon Markets Cooperation (Government of Singapore)](https://www.carbonmarkets-cooperation.gov.sg/our-art6-cooperation/) | 2026-11-12 |
| Countries listed in MOU table | 17 countries (Colombia, Costa Rica, Dominican Republic, Brazil, Bhutan, Cambodia, Lao PDR, Philippines, Malaysia, Sri Lanka, Kenya, Morocco, Senegal, Zambia, Malawi, Ethiopia, Fiji) | [Singapore's Carbon Markets Cooperation (Government of Singapore)](https://www.carbonmarkets-cooperation.gov.sg/our-art6-cooperation/) | 2026-11-12 |
| Share of proceeds for adaptation | 5% | [Singapore's Carbon Markets Cooperation (Government of Singapore)](https://www.carbonmarkets-cooperation.gov.sg/our-art6-cooperation/) | 2026-11-12 |
| OMGE cancellation at issuance | 2% of authorised credits | [Singapore's Carbon Markets Cooperation (Government of Singapore)](https://www.carbonmarkets-cooperation.gov.sg/our-art6-cooperation/) | 2026-11-12 |
| Countries with application calls launched | Bhutan, Ghana, Peru, Rwanda, Thailand | [National Environment Agency (NEA)](https://www.nea.gov.sg/our-services/climate-change-energy-efficiency/climate-change/carbon-tax) | 2026-11-12 |
| Mongolia application process opened | 8 October 2026 | [Singapore's Carbon Markets Cooperation (Government of Singapore)](https://www.carbonmarkets-cooperation.gov.sg/newsroom/) | 2026-11-12 |
| Host countries with published Eligibility List | 6: Ghana, Bhutan, Peru, Rwanda, Thailand, Mongolia | [Singapore's Carbon Markets Cooperation (Government of Singapore)](https://www.carbonmarkets-cooperation.gov.sg/environmental-integrity/overall-eligibility-list/) | 2026-11-12 |
| Projects on IA Project Register | 0 registered (as of 2 Nov 2026) | [Singapore's Carbon Markets Cooperation (Government of Singapore)](https://www.carbonmarkets-cooperation.gov.sg/project-register/) | 2026-11-12 |
| Project lead time to generate credits | Up to four years | [National Environment Agency (NEA)](https://www.nea.gov.sg/our-services/climate-change-energy-efficiency/climate-change/carbon-tax) | 2026-11-12 |
| Carbon crediting programme registries for ICC retirement | 5: ACR, ART, Global Carbon Council, Gold Standard, Verra | [National Environment Agency (NEA)](https://www.nea.gov.sg/docs/default-source/carbon-credits/icc-guidance-document-v1-2_8jul2026.pdf) | 2026-11-12 |
| Roll-over of unused 2024 ICC limit | Up to 5% of 2024 taxable emissions rolled to EY2025 | [Singapore's Carbon Markets Cooperation (Government of Singapore)](https://www.carbonmarkets-cooperation.gov.sg/frequently-asked-questions/general-information/) | 2026-11-12 |
| 2024 roll-over quota expiry | Expires; cannot be carried beyond 2025 | [National Environment Agency (NEA)](https://www.nea.gov.sg/our-services/climate-change-energy-efficiency/climate-change/carbon-tax) | 2026-11-12 |
| Roll-over of unused 2025 ICC limit to 2026 | Allowed, adjusted by credit conversion factor | [National Environment Agency (NEA)](https://www.nea.gov.sg/our-services/climate-change-energy-efficiency/climate-change/carbon-tax) | 2026-11-12 |
| Credit conversion factor 2025 to 2026 | (A - B) x (25/45), rounded down | [National Environment Agency (NEA)](https://www.nea.gov.sg/our-services/climate-change-energy-efficiency/climate-change/carbon-tax) | 2026-11-12 |
| NEA worked example: rolled-over quota | 4,000 x (25/45) = 2,222 credits | [National Environment Agency (NEA)](https://www.nea.gov.sg/our-services/climate-change-energy-efficiency/climate-change/carbon-tax) | 2026-11-12 |
| Credit conversion factor as decimal | 25/45 = 0.5556 | [National Environment Agency (NEA)](https://www.nea.gov.sg/our-services/climate-change-energy-efficiency/climate-change/carbon-tax) | 2026-11-12 |
| Rate multiple, 2024 vs 2019-23 | 5x (S$25 / S$5) | [Singapore Statutes Online, Attorney-General's Chambers](https://sso.agc.gov.sg/Act/CPA2018?WholeDoc=1) | 2026-11-12 |
| Rate increase, 2026 vs 2024-25 | +80% (S$45 / S$25 - 1) | [Singapore Statutes Online, Attorney-General's Chambers](https://sso.agc.gov.sg/Act/CPA2018?WholeDoc=1) | 2026-11-12 |
| Budget 2018 confirms carbon tax design | Tax on all facilities emitting 25,000 tCO2e or more, from 2019 | [Ministry of Finance (MOF)](https://isomer-user-content.by.gov.sg/153/6519d8ac-65b5-49fb-a663-a037c5e5e8e5/fy2018_budget_statement.pdf) | 2026-11-12 |
| Implementation Agreement signed: Papua New Guinea | 2023-12-08 | [NCCS](https://www.nccs.gov.sg/media/singapore-signs-first-implementation-agreement-with-papua-new-guinea-on-carbon-credits/) | 2026-11-12 |
| Implementation Agreement signed: Ghana | 2024-05-27 | [Singapore's Carbon Markets Cooperation (Government of Singapore)](https://www.carbonmarkets-cooperation.gov.sg/newsroom/) | 2026-11-12 |
| Implementation Agreement signed: Bhutan | 2025-02-28 | [Singapore's Carbon Markets Cooperation (Government of Singapore)](https://www.carbonmarkets-cooperation.gov.sg/newsroom/) | 2026-11-12 |
| Implementation Agreement signed: Peru | 2025-04-01 | [Singapore's Carbon Markets Cooperation (Government of Singapore)](https://www.carbonmarkets-cooperation.gov.sg/newsroom/) | 2026-11-12 |
| Implementation Agreement signed: Chile | 2025-04-07 | [Singapore's Carbon Markets Cooperation (Government of Singapore)](https://www.carbonmarkets-cooperation.gov.sg/newsroom/) | 2026-11-12 |
| Implementation Agreement signed: Rwanda | 2025-05-06 | [Singapore's Carbon Markets Cooperation (Government of Singapore)](https://www.carbonmarkets-cooperation.gov.sg/newsroom/) | 2026-11-12 |
| Implementation Agreement signed: Paraguay | 2025-05-23 | [Singapore's Carbon Markets Cooperation (Government of Singapore)](https://www.carbonmarkets-cooperation.gov.sg/newsroom/) | 2026-11-12 |
| Implementation Agreement signed: Thailand | 2025-08-19 | [Singapore's Carbon Markets Cooperation (Government of Singapore)](https://www.carbonmarkets-cooperation.gov.sg/newsroom/) | 2026-11-12 |
| Implementation Agreement signed: Vietnam | 2025-09-16 | [Singapore's Carbon Markets Cooperation (Government of Singapore)](https://www.carbonmarkets-cooperation.gov.sg/newsroom/) | 2026-11-12 |
| Implementation Agreement signed: Mongolia | 2025-10-06 | [Singapore's Carbon Markets Cooperation (Government of Singapore)](https://www.carbonmarkets-cooperation.gov.sg/newsroom/) | 2026-11-12 |
| Implementation Agreement signed: Philippines | 2026-06-08 | [Singapore's Carbon Markets Cooperation (Government of Singapore)](https://www.carbonmarkets-cooperation.gov.sg/newsroom/) | 2026-11-12 |
| Implementation Agreement signed: Lao PDR | 2026-09-04 | [Singapore's Carbon Markets Cooperation (Government of Singapore)](https://www.carbonmarkets-cooperation.gov.sg/newsroom/) | 2026-11-12 |
| First IA call for projects (Ghana) | 30 September 2024 | [Singapore's Carbon Markets Cooperation (Government of Singapore)](https://www.carbonmarkets-cooperation.gov.sg/newsroom/) | 2026-11-12 |
| Cumulative IAs signed by end-2023 | 1 | [Singapore's Carbon Markets Cooperation (Government of Singapore)](https://www.carbonmarkets-cooperation.gov.sg/newsroom/) | 2026-11-12 |
| Cumulative IAs signed by end-2024 | 2 | [Singapore's Carbon Markets Cooperation (Government of Singapore)](https://www.carbonmarkets-cooperation.gov.sg/newsroom/) | 2026-11-12 |
| Cumulative IAs signed by end-2025 | 10 | [Singapore's Carbon Markets Cooperation (Government of Singapore)](https://www.carbonmarkets-cooperation.gov.sg/newsroom/) | 2026-11-12 |
| Cumulative IAs signed by end-2026 | 12 | [Singapore's Carbon Markets Cooperation (Government of Singapore)](https://www.carbonmarkets-cooperation.gov.sg/newsroom/) | 2026-11-12 |

## FAQ

**How much is Singapore's carbon tax in 2026?**

S$45 per tonne of CO2e for emissions in 2026 and 2027. It was S$25 in 2024–2025 and S$5 in 2019–2023. The Government aims for S$50–80 by 2030, and the path after 2027 is under review.

**Who has to pay the carbon tax?**

Facilities that emit 25,000 tCO2e or more of direct emissions a year — about 50 facilities in manufacturing, energy supply, and water and waste. Facilities between 2,000 and 25,000 tCO2e only measure and report.

**How much of Singapore's emissions does the tax cover?**

Around 70% of national greenhouse gas emissions (about 80% if the excise duties on transport fuels are counted).

**Can companies use carbon credits to pay the tax?**

Yes, up to 5% of taxable emissions, from 1 January 2024, using eligible international carbon credits that meet Article 6 rules and seven integrity principles. The rest is paid with fixed-price credits bought from the Government.

**Are international credits actually available yet?**

Not yet at scale. Twelve implementation agreements are signed and six host countries have published eligibility lists, but as of 2 November 2026 zero projects are registered, and projects can take up to four years to issue credits.

**What happens to unused 2025 credit quota?**

It can roll into 2026, multiplied by 25/45 because the tax rose from S$25 to S$45. NEA's example: 4,000 unused becomes 2,222. Quota carried from 2024 into 2025 has expired.

**When is the tax paid?**

By 30 September of the year after the emissions year, so the 2026 bill is due by 30 September 2027.

**Is the carbon tax passed on to households?**

Indirectly. The Government estimates about 1% on electricity tariffs per S$5 of tax, or around S$3 a month for an average 4-room HDB flat at S$45.

## Not listed yet

- Carbon tax revenue actually collected: published only combined with other duties.
- The share of free allowances under the transition framework: stated only as 'a portion'.
- Standalone carbon tax revenue (actual collections) — MOF publishes only the combined 'Customs, Excise and Carbon Taxes' line (FY2025 analysis); no separate carbon tax figure found on official pages. Only the 2018 estimate (nearly S$1bn over 5 years) is confirmed.
- Transition framework allowance share (% of emissions) — NCCS/NEA/MOF pages say allowances cover 'only a portion' of emissions; no percentage published on pages read.
- NEA Tables 2-4 (reckonable vs non-reckonable, gases, obligations by threshold) — Published as images on the NEA carbon tax page; text not machine-readable, so not transcribed.
- Number of methodologies on each Eligibility List — Country-specific Eligibility List documents were not opened; only the list of 6 host countries is confirmed.
- ICC prescribed limit in Regulations text (5%) — Carbon Pricing (Carbon Tax and Carbon Credits Registry) Regulations on SSO not opened; 5% confirmed from NEA/NCCS/MOF instead. Plain curl to SSO returned HTTP 403; Act read via in-app browser.
- Section 20B allowance period — Text read was truncated before the period end; not recorded.
- Original NCCS URL /mitigation-efforts/carbon-tax/ — Returns 404; current page is /mitigation-efforts/carbontax/.
- Discrepancy note: IA count — NEA page (updated 19 Aug 2026) says 11 IAs; CMC FAQ (2 Nov 2026) says 12 after Lao PDR signing on 4 Sep 2026. Both recorded.