On 08 April 2021, the South African Revenue Service (SARS) announced the amendment of various tariff subheadings under Chapter 49 in Part 1 of Schedule No.1 to the Customs and Excise Act, 1964, in order to create separate 8-digit tariff subheadings for banknotes, postage stamps and revenue stamps, and the insertion of Additional Note 6.
Additional Note
The insertion of the following Additional Note after Note 6 in Chapter 49 of Section X to Part 1 of Schedule No.1 to the Act, 1964:
ADDITIONAL NOTE:
1. Tariff subheadings 4907.00.16 and 4907.00.18 apply to the foreign currency banknotes mentioned therein, exported from the Republic.
Tariff subheadings
By the deletion of the following:
4907.00.10 Postage stamps, revenue stamps and banknotes
By the insertion of the following:
4802.55.10 Security paper used for banknotes or the like
4802.57.10 Security paper used for banknotes or the like
4907.00.1 Banknotes:
4907.00.11 National currency, in circulation, repatriated from abroad
4907.00.12 National currency, not in circulation, printed abroad
4907.00.14 Foreign currency, in circulation, imported
4907.00.16 Foreign currency, printed locally, not in circulation, as provided for in Additional Note 1 to Chapter 49
4907.00.18 Foreign currency, in circulation, as provided for in Additional Note 1 to Chapter 49
By the insertion of the following:
4907.00.19 Other
4907.00.40 Postage stamps
4907.00.50 Revenue stamps
By the substitution of the following:
4802.55.20 Other, of a width exceeding 150 mm
4802.57.20 Other, in strips or rolls of a width exceeding 150 mm; in rectangular (including square) sheets with one side exceeding 360 mm and the other side exceeding 150 mm in the unfolded state
The notice is available on request:
Story by: Riaan de Lange
