Customs Deferment –
External Policy
Effective since 12 January
2012 the South African
Revenue Service (Sars)
“External Policy – Customs
Deferment” applies.
The Scope of this
document: (a) It encapsulates
the deferment requirements
and processing of customs
duties and Value-added Tax
(VAT) for a period of up to
30 days for clients on the
Customs system; (b) The
purpose of this document
is to cater for the deferment
of customs duties and VAT
payable upon importation for
both international and BLNS
transactions; (c) It outlines
the legal requirements and
the respective timeframes
allowed; and (d) Registration
for the deferment facility
is covered in a different
document.
The Policy of the document
states: (a) Only registered
Customs clients may utilise
the deferment scheme; (b)
The payment of Customs
duties and VAT at the time of
importation may be deferred
for up to 30 days. No locally
manufactured goods, may be
deferred under this scheme;
(c) The respective bond
requirements are covered
in a different document; (d)
If agents utilise importers’
deferment accounts they must
obtain a Power of Attorney;
and (e) Appeals against
decisions; (ei) In cases where
clients are not satisfied with
any decision taken in terms
of the Customs and Excise
Act they have a right of
appeal to the relevant appeal
committee; (eii) Should clients
be unhappy with a decision
of any appeal committee their
recourse will be to lodge an
application for Alternative
Dispute Resolution (ADR)
with the relevant appeal
committee. The committee
will add its comments thereto
and forward the application to
the ADR Unit for attention;
(f) Keeping records; (fi) Every
client must keep for record
purposes for a period of five
years: (A) Books, accounts
and documents in respect of
all transactions relating to
the Rules for the purpose of
any acquittal procedure; and
(B) Any data related to such
documents created by means
of a computer; (fii) The fiveyear
period is calculated from
the end of the calendar year
in which the document was
created, lodged or required;
(fiii) Every client must
produce such books, accounts
and documents on demand.
(g) Penalties; (gi) Failure
to adhere to the provisions
of the Act, as set out in this
document, is considered an
offence. (gii) Offences may
render the client liable to,
as provided for in the Act:
(A) Monetary penalties; (B)
Criminal prosecution; and/
or (C) Suspension and/or
cancellation of registration,
licence, accreditation and/or
designation.
Bonds – External Policy
Effective since 16 January
2012 Sars’ “External
Policy – Bonds” applies.
This Policy covers: (ai) The
standards used to determine
the amount of security and
the criteria used to review
the amount of security; (aii)
The registration, cancellation
and governance of bonds and
addendums which are the
acceptable forms of security;
and (aiii) Surety where it
is a condition of approval,
registration, licensing or
designation. (b) Cash deposits
on provisional payments in
lieu of surety bonds are no
longer accepted for surety for
any new applications. (c) This
document does not apply to:
(i) Licensing, Registration and
Designation; (ii) Completion
of Bonds and Addendums; (iii)
Excise Securities; (iv) Other
forms of security for example
placing liens are covered in
the enforcement procedures;
(v) Plant and machinery which
cannot be used as security to
cover any customs security
risks; and (vi) Surety that
could be furnished on a
transaction level.
DUTY CALLS
0 Comments
