Customs Control Act
Workshop
The South African Revenue
Service (Sars) will hold a
workshop to discuss the
comments received on the
second draft rules to the
Customs Control Act, 2014,
on 30 August from 10:00
to 12:00 at the 2nd floor,
Linton House Auditorium,
Sars, Brooklyn, Pretoria.
(The last such workshop was
held on 23 September 2015.)
Sars will only accommodate
two representatives per
company and you need to
confirm your attendance by
23 August.
This is quite an
interesting date and
time for the workshop
considering that on the day
the FTW/JCCI business
breakfast featuring the
chief officer Customs and
Excise, Jed Michaletos,
will be hosted by KPMG in
Parktown. The subject of
his presentation is ‘Customs
in the 21st Century’
followed by a question and
answer session.
Vegetable Oil
Provisions
On 11 August Sars
published draft tariff
amendments of Part 1
of Schedule No 1 to the
Customs and Excise
Act, 1964 to insert new
provisions for vegetable oils
marketed and supplied for
use in cooking food.
The supply of vegetable
oils (excluding olive oil)
is Value-added Tax (VAT)
zero-rated, provided the
vegetable oils are marketed
and supplied for use in the
process of cooking food.
The tariff amendment
is required to align the
relevant provisions in
Schedule No 1 Part 1 of the
Act, 1964 with those of the
VAT Act, 1991.
Comment is due by 25
August 2016.
Bolts and Nuts
Dumping Duties
Sars on 12 August published
the retrospective amendment,
with effect from 05 May
2016, of the anti-dumping
duties on bolts and nuts of
iron or steel, classifiable in
tariff subheadings 7318.15.43,
7318.16.20, and 7318.16.30,
originating in or imported
from the People’s Republic of
China.
The reasoning of the
International Trade
Administration Commission
of South Africa (Itac) for its
recommendation is contained
in its report no 528.
Transfer Pricing
The second draft notice –
for the Tax Administration
Act, 2011 – setting out
additional record-keeping
requirements for transfer
pricing transactions has been
published, by Sars for a final
round of public comment.
You may want to consider the
draft notice from a customs
valuation perspective.
Comment is due by 19
August 2016.
Duty Calls’ Watch
List
Comment is due on
(i) “Policy paper and
proposals on the taxation
of sugar-sweetened
beverages” by 22 August;
(ii) review of the “general”
rate of customs duty on
various downstream steel
products by 19 August;
(iii) the review of the
dollar-based domestic
reference price and the
variable tariff formula
for wheat; wheaten f lour;
maize; maize f lour; and
sugar by 19 August; and
(iv) a public interest
hearing on the safeguard
investigation of certain
f lat-rolled products of
iron and non-alloy steel is
scheduled for 30 August.
DUTY CALLS
Comments | 0
