[…] oil, natural gas and their derivatives and other liquids and gases transported through cross-border pipelines as well as electricity transmitted through cross-border transmission lines. In order for Customs to safeguard any revenue due to the State and ensure compliance with national legislation, the importer must declare to Customs what they have brought into the […]
What is Valuation? Customs values are set by the General Agreement on Tariffs and Trade (GATT) valuation code, which involves six valuation methods. The GATT Agreement on customs valuation has been accepted by all major trading countries. The Valuation Agreement prescribes six methods of valuation which must be applied in strict hierarchical […]
[…] Schedule 1 – Consequential amendments to item 498.00 as a result of the changes requested by the Minister of Trade and Industry to Schedule No. 4 to the Customs and Excise Act, 1964 Regulation R.723 Note:Also refer to Tariff Amendments 2015 for Notices R.722 and R.724 amending Schedule No. 4 in this regard 9 February 2016 See […]
[…] and exports – The administration of certain rules regarding the import and export of goods from South Africa required some alignment between the VAT Act and the Customs and Excise Act. During 2014 the customs and excise legislative framework was fundamentally restructured by the introduction of the new Customs Control Act, 2014 and the […]
What’s New? 9 November 2020 – Update on the discontinuation of chequesBanks are discontinuing cheques as a payment method. The last date for SARS Customs payments made at a SARS port of entry per cheque will be on or before Sunday 13 December 2020 and for all other SARS payments, it will be on or before Thursday, 31 December […]
What are Customs Duties and Taxes? Customs duties are imposed by the Customs and Excise Act 91 of 1964. They are levied on imported goods with the aim of raising revenue and protecting the local market. They are usually calculated as a percentage of the value of the goods (set in the schedules to […]
[…] South African tax law Abalone confiscated at border – 22 January 2007 An important intervention in the illicit trade of abalone (perlemoen) was made by SARS Customs officials at the weekend when a truck with about 600 kilograms of abalone was stopped and detained at the South African-Namibia border Draft regulations for […]
What is a clearing agent? Any person (excluding a registered agent) who lodges a Customs Clearance Declaration (CCD): For reward on behalf of another Customs Client type; or Provides a service that includes the clearance of goods (e.g. Licensee of a Customs warehouse making CCD on behalf of the importer, exporter or owner of […]
[…] qualification. Tax compliant licensees in financial distress due to COVID-19 that satisfy any one or more of the criteria as set out in rule 105.02(a)(i-iv) of the Customs & Excise Act no.91 of 1964, will be considered for payment deferral. What must I do to be a tax compliant licensee? In order to qualify […]
[…] Deleted Text in red is new insertions Highlighted in Yellow – Amended Strikethrough – Deletions Correlation Table of the tariff structure as contained in the 1964 Act Customs and Excise Act, 1964: Schedules to the Act Customs, Excise and Sales Duties and Surcharge Customs Duty Act, 30 of 2018 : (Annexure 1 to the […]
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