With effect from 26 March the South African Revenue Service (Sars) published its 41-page “External Policy on Customs Valuation on Imports”. According to the Scope of the document, this policy is for all Customs Officers dealing with the pre- or post-clearance verification and calculation of the value for Customs duty purposes of imported goods. It specifically focuses on the provisions of: (i) Section 65 of the Customs and Excise Act (the Act); (ii) Sections 66(4)(5)(7)(8) and 66(9) of the Act; and (iii) Section 73 of the Act. The policy explains how Customs interprets the law that relates to the value for Customs Duty purposes. This policy does not cover: (i) The transaction value method (Section 66(1) of the Act); (ii) anti-dumping; or (iii) countervailing duty.
