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Customs Advance Payment Notification

Customs Advance Payment Notification

26 November 2021 – As part of the Customs Modernisation Programme (CMP), authorised dealers in foreign exchange and currency, the South African Reserve Bank (SARB) and SARS are collaborating to combat illicit financial flows and customs valuation fraud associated with the misuse of advance foreign exchange payments in respect of goods to be imported.

On 3 December 2021, SARS will be implementing a new functionality on its eFiling platform for importers to notify SARS of their intention to apply to an authorised dealer for an advance foreign exchange payment in respect of goods to be imported. For more information, see the letter to Trade.

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