Wire Duty Reduction On 17 July 2014 the South African Revenue Service (Sars) advised of the insertion of tariff subheading 7312.10.10 to reduce the “General” rate of customs duty on stranded wire, of wire which is plated, coated or clad with copper-zinc base alloys (brasses), from 5% ad valorem to free. SADC Initial EPA Senior officials from the Southern African Customs Union (Sacu), Botswana, Lesotho, Namibia, South Africa and Swaziland, and of Mozambique initialled the Economic Partnership Agreement (EPA) in Johannesburg on 15 July 2014, concluding 10 years of negotiations. According to the Business Day this provides South Africa with marked benefits over the bilateral Trade, Development and Co-operation Agreement (TDCA) with the European Union (EU) that entered into force on 01 January 2000. It improves EU market access to 32 South African agricultural products, with a significant improvement in the market for wine. South Africa would be well advised to closely monitor the EU and United States of America (USA) Transatlantic Trade and Investment Partnership or T-TIP negotiations. Taxation Amendment Bills – Comment due Sars on 17 July 2014 published for comment by 17 August 2014 the Draft Taxation Laws Amendment Bill, 2014 and Draft Tax Administration Laws Amendment Bill, 2014. At first glance the Bills do not reference customs duty and excise duty. IDZ Designation The Minister of Trade and Industry has invited comment on the application for designation of an Industrial Development Zone (IDZ) at Tshiame (Industriqwa 1A), Harrismith in the Free State and for the granting of the Operator Permit. Cameroon and Nigeria Trade Mission The Department of Trade and Industry (the dti) has invited participation in a Trade and Investment Mission to Cameroon and Nigeria from 24 to 28 November 2014. Industrial Incentive Schemes The dti has issued a reminder about its range of incentive schemes to promote and attract investment to stimulate the industrial sector and support job creation, which include: Aquaculture Development and Enhancement Programme (ADEP); Business Process Services (BPS); Capital Projects Feasibility Programme (CPFP); Clothing and Textile Competitiveness Improvement Programme (CTCIP); Critical Infrastructure Programme (CIP); People-carrier Automotive Investment Scheme (P-AIS); Production Incentive (PI); Sector Specific Assistance Scheme (SSAS); Seda Technology Programme (STP); Support Programme for Industrial Innovation (SPII); Technology and Human Resources for Industry Programme (THRIP); The Manufacturing Competitiveness Enhancement Programme (MCEP); and Tourism Support Programme (TSP). Duty Calls’ Watch List Comment on the draft Customs Control Rules for Chapters 1 and 3 to 10 of the proposed Customs Control Act is due by 29 July 2014.
