COMPLIANCE: A REMINDER FOR IMPORTERS
Those operating within the South African customs and/or excise sphere will know that the Customs and Excise Act 91 of 1964 (“the Act”) requires importers and their agents to self-regulate.
Articles
BUNKER OPERATIONS – DOCUMENTS TO BE RETAINED
The South African Revenue Service (“SARS”) has been cracking down on compliance in respect of petroleum products, including the provision of bunkers to foreign going vessels.
Beware of this Ongoing Customs Scam!
Back in 2015 we received calls from a few distraught women who had fallen victim to a scam involving a supposed parcel at customs. It seems that the criminals are still reaping the rewards of this scam, as many women are still being caught by these criminals.
VAT Increase effective 1 April 2018
From 1 April all taxable goods or services are subject to 15% VAT. Goods entered for home consumption on or after 1 April 2018 will be subjected to the higher VAT rate.
Customs Update - Reporting of Conveyances and Goods
As has been widely publicized, licensing and registration is no longer going to be introduced as the first phase of implementation of the new Customs Legislation.
Customs Update: Death and Taxes
SARS Customs rely on importers to declare the correct tariff heading and dutiable amount on their SAD500. Some importers try to avoid paying what is legitimately due in customs duty and VAT by misdeclaring the tariff code and / or customs value.
NRCS to Fast-Track Letters of Authority for Compliant Importers
The launch of a pilot programme aimed at cutting delays in the issuance of Letters of Authority.