Glossary Terms A – M | Glossary Terms N – Z This glossary describes some of the terms used on the SARS website. While every effort has been made to present accurate and up-to-date definitions, this glossary should be used as an interpretive aid only and not as an authority. SARS will not be liable […]
[…] Pension Laws Amendment Bill, to ensure the smooth implementation and administration of the “two pot” retirement system. changes. Date published: 9 June 2023 30 June 2023 Income Tax Act, 1962 Draft Guide Draft Guide – Tax Treatment of the Net-billing Tariff System for Excess Power Generated Explanatory Note This guide provides general guidance on […]
Glossary Terms A – M | Glossary Terms N – Z This glossary describes some of the terms used on the SARS website. While every effort has been made to present accurate and up-to-date definitions, this glossary should be used as an interpretive aid only and not as an authority. SARS will not be liable […]
1. Why modernise customs law? In an ever changing and complex international, regional and national environment, Customs plays a critical role in supporting Government’s programmes to promote economic growth, job creation and social cohesion. The Customs and Excise Act, 1964, has not kept pace with the changing focus of customs work or with the radical […]
Welcome to Customs Connect – your electronic newsletter that will provide you with the latest news and information on Customs Modernisation and related matters. We hope you enjoy the read and that you will find the information helpful. To read our newsletter below, click on each heading to expand the corresponding article. Key Modernisation projects […]
For an archive on RLA updates, click here. What’s New ? 29 June 2023 – Facilities Code List updated The SC-CF-19-A02 – Facilities Code list – External Annexure was updated. The facility codes used in Box 30 on the Customs Clearance Declaration (CCD) have been updated due to: The name changes of: De-grouping depot 56 […]
What is it? EDI, or electronic data interchange, is essentially a “paperless” trading system. It involves the electronic transfer of data, by established message standards, from one computer application to another. Growth in world trade means businesses are increasingly developing better ways of managing the movement of raw materials, stock and finished goods. EDI organises […]
What’s New? 6 September 2023 – DA66 Automation: Frequently Asked Questions The Customs Modernisation Journey Pre SARS Customs commenced with a modernisation journey between 1980 – 1997 with the introduction of the first automated clearance declaration and basic risk assessments together with the introduction of deferred payments The second journey was called the Customs Transformation Programme […]
What’s New? 10 February 2023 – Updated Clarification document for AEOI (FATCA) Reporting TIN Codes The purpose of this document is to clarify the application of the supplied codes for the Taxpayer Identification Number (TIN) data fields for FATCA submissions. This version 3 was updated to align with the IRS Notice 2023-11. Third Party Data […]
Third Party Data Bi-Annual Submissions 2021: Now Open! The SARS Third Party Data Bi-Annual Submissions for the period 1 March 2021 – 31 August 2021 opened on 01 September 2021, and will close on 31 October 2021. Submissions of data files and declarations of the various reportable data types are now due. At this time, […]
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