Search Results for: duties – Page 6

Tariff

[…] Act. Tariff classification relates to the proper classification of goods within the Harmonized Commodity Description and Coding System (tariff book). The Tariff Book indicates the normal customs duties (Schedule No 1, Part 1), excise duties (Schedule No 1, Part 2A), ad valorem duties (Schedule No 1, Part 2B), anti-dumping duties (Schedule No 2, Part […]

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Customs Refunds and Drawbacks

[…] Phase 2 (refund item 538.00/04.00) as well as the required supporting documents; and the alignment of the limitation date for export duty refunds. To claim back these duties, the importer must be in possession of a valid Production Rebate Certificate (PRC) of which the importer is the beneficiary. See the updated Refunds and Drawbacks […]

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Customs Bills History

This part of the archive area is intended for use in circumstances where it might be necessary to establish a sequence in policy changes on legislative provisions. It should be noted that the final publication of a draft might differ from the original draft circulated in view of the comments received and/or legislative policy considerations. The area Preparation […]

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Exemption

For reference, the Transfer Duty exemption requirements are contained in section 9(20) of the Transfer Duty Act.  No duty shall be payable in respect of any acquisition of any interest in a residence as contemplated in paragraph 51 or 51A of the Eighth Schedule to the Income Tax Act, 1962 (Act No. 58 of 1962), […]

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Refunds

Since 2011, SARS in consultation with the Law Society of South Africa (LSSA) has been introducing changes to the Transfer Duty process to improve efficiency, compliance and to reduce risk to Conveyancers and SARS. The ultimate goal being improved benefits and easier management of transactions for Conveyances. These changes have been in a phased manner […]

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Ad Valorem Products

WHAT IS IT? Ad Valorem Products include, amongst others, Motor Vehicles, Electronic Equipment, Cosmetics, Perfumeries and other products generally regarded as “luxury items” and are subject to the payment of Ad Valorem Excise Duty if used within the Southern African Customs Union (SACU). WHO IS IT FOR? Ad Valorem Excise Duty on Ad Valorem products […]

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New Customs Legislation FAQs

[…] replace the provisions of the current Customs and Excise Act, 1964, in relation to customs only and the amended 1964 Act will continue to apply to excise duties and the other levies and taxes mentioned.   18. Will it be mandatory for all exporters and importers to re-register every three years for their import and […]

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LAPD-LPrep-Draft-2019-17 – Draft Correlation Table

[…] Customs and Excise Act, 1964: Schedules to the Act Excise Duty Act : – Excise Tariff COMMENTS (number of units). units). 11 General Note B 5. Any duties on imported goods specified in Part 2, 3 and 5 of this Schedule are additional to any duties specified in Part 1 of the said Schedule […]

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Rules of Origin

[…] payable and admissibility into the country.    In addition, Rules of Origin may also determine whether goods are entitled to the payment of less or no Import duties. For this reason, there is a distinction between non-preferential and preferential Rules of Origin.   The non-preferential rules are applied for “Most-favoured Nation” (MFN) trade purposes […]

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