State Warehouse Rent – Comment Due The South African Revenue Service (SARS) has invited comment on the rules for section 17 i.e. “State Warehouse” of the Customs and Excise Act, and the draft form DA68 i.e. “Application for Delivery of Goods Ex State Warehouse”. Comments due by no later than 10 August 2005. Dairy Products Trade Policy Review The International Trade Administration Commission of South Africa (ITAC) has a policy not to issue customs duty (duty) rebate permits for dairy products in terms of Rebate Item 470.03. This Rebate Item provides for the customs duty free importation of components or inputs used in the manufacture, processing, finishing, equipment or packing of products that are exported. Woodlands Dairy lodged an application for the withdrawal of this policy. Response due by August, 19. Tariff amendments – 27 July 2005 The amendment of the General and the European Union (EU) rate of customs duty (duty) on wheat and wheat flour, classifiable under tariff subheadings 1001.90 i.e. “other”, and 1101.00 i.e. “wheat or meslin flour”. The rates of duty are amended from 1.876c/kg and 2.80c/kg respectively to 2%. Tariff applications – response due The reduction in the rate of duty on bearing housings incorporating bearings, used in drive and non-drive axles for motor vehicles classifiable under tariff subheading 8708.50.90 and 8708.60.90 respectively at a rate of duty of 20% ad valorem to free of duty. The applicant is Hudaco Trading Ltd t/a Bearings International. Comment due by 19 August 2005. The amendment of two rebate items for the exclusion of plasticised poly (vinyl chloride) in granules, including pellets and similar forms. The applicant is W.R. Grace Africa (Pty) Ltd trading as Darex. Comment due by August 12. The reduction in the rate of duty on N-butyl acetate. The applicant is Plascon Automotive who stated that the product was not manufactured in the common customs area of the Southern African Customs Union (SACU). The reduction in the rate of duty on self-adhesive plates, sheets, film, foil, tape, strip and other flat shapes of biaxially oriented polymers of propylene (excluding that which is self-adhesive on both sides), in rolls of a width exceeding 150mm but not exceeding 200mm, from 13.2% to free of duty under the EU and from 15% to free of duty under the general rate of duty with retrospective effect. The applicant is Holomatrix (Pty) Ltd who stated that BOPP film, described as a holographic high refractive Index Data Protection security Laminate (HRIL), is not manufactured in the SACU. Response due by 5 August 2005. No Anti-dumping amendments – 29 July 2005 Anti-dumping applications – response due Initiation of an investigation into the alleged dumping of detonating fuses and delay detonators (commonly known as shocktubes), originating in or imported from the People’s Republic of China. The application was lodged by African Explosives Limited (AEL). Response due by 15 August 2005. PONL launches Far East – South America service ALAN PEAT A NEW service from P&O Nedlloyd (PONL) on the Far East-SA-East Coast South America (ECSA) trade has just been launched – following the end of the line’s partnership with MOL on the route. The ASAS (Asia-SA-South America) service is designed to offer faster transit times, and capitalise on the increase in trade to-and-from the oriental market, said SA-Far East trade manager, Karen Kruger, with special focus on the burgeoning Chinese trade. The line has deployed 11 vessels running a weekly service with a round voyage of 77-days. The first sailing westbound was on July 25 from Pusan – then calling the ports of Shanghai, Keelung, Hong Kong, Singapore, Durban, Port Elizabeth, Sepetiba, Santos, Buenos Aires, Montevideo, Rio Grande, Paranagua, Sao Francisco do Sul, Santos and Rio de Janeiro. “A special benefit of the new ASAS system is that it allows more capacity and faster transit times for perishable products from Cape Town and Port Elizabeth to the main reefer markets in Singapore, Hong Kong, Pusan and Keelung,” Kruger added. With its other services between the Far East and SA – PONL is now offering three sailings a week on both the import and the export legs of the trade. Interest rate cut ‘unlikely’ DESPITE BETTER -than-expected inflation numbers for June - with the three indices being: CPIX: 3.5%; CPI: 2.8% and Core CPI: 3.7% - there’s little hope of an interest rate cut this month. “Although inflation remains well contained,” said Standard Bank economist Monica Ambrosi, “the SA Reserve Bank (SARB) is unlikely to be swayed by past data. “As our outlook is one of a rising trend in inflation, we expect this to drive the bank’s monetary policy decision in August.”
