On 02 July the South African Revenue Service (Sars) announced an update of the “Excise External Completion Manual DA 160 Petroleum Product Account”.
The amendment relates to the insertion of Sub-Section 2.1.1 “2.1.1 Face check of the DA 160 Petroleum Product account”, which is part of Section “2. DA 160 MONTHLY EXCISE ACCOUNT”, and Section “2.1 Completion of account and supporting schedules”.
Sub-Section reads:
“2.1.1 Face check of the DA 160 Petroleum Product account
a) Licensees are required to forward signed copies of their monthly DA 160 plus supporting schedule(s) for Petrol, Diesel and Illuminating Kerosene (IK) to the relevant Excise B/O, on the date the respective EXD 01 returns are submitted via Service Manager.
b) The signed DA 160 accounts must be submitted via email to the B/O. The Excise division will then conduct a face value check of the DA 160 accounts against the electronic EXD 01. Where any amendments are required, the B/O will inform the licensee within five (5) days from the date of the filing of the EXD 01.
c) Once the face check has been completed, B/O’s must file the DA 160 account in the designated sharefolder.”
The Information and Notice is accessible at:
https://www.sars.gov.za/AllDocs/OpsDocs/Manuals/SE-OIL-04-M01%20-%20Completion%20of%20 DA%20160%20-%20External%20Manual.pdf
Story by: Riaan de Lange