On 07 August the South African Revenue Service (SARS) announced the draft rule amendments 59A.01A and 60.10(1) to the Customs and Excise Act, 1964 to clarify the grace period allowed for compliance with new registration or licensing requirements when updating information, and substitutes the period of "60 days" with "60 calendar days", on which comment is due by 21 August.
The amendment of rule 59A.01A to the Act, 1964, which is amended by the substitution for the words “60 days” of the words “60 calendar days” where it occurs in - (a) paragraph (c)(ii)(bb); and (b) paragraph (c)(iii)(B).
The amendment of Rule 60.10(1) to the Act, 1964, is substitution for the words “60 days” of the words “60 calendar days” where it occurs in – (a) paragraph (b)(ii); and (b) paragraph (b)(iii)(B).
Story by: Riaan de Lange