EPA phase-down - Comment due
On 15 September 2017, the South African Revenue Service (Sars) published the draft tariff amendments in Part 1 of Schedule No.1 to the Customs and Excise Act, 1964 (Ordinary Customs Duty) the 2018 Economic Partnership Agreement (EPA) phase-downs, as well as various technical amendments which comes into effect on 01 January 2018. Comment is due by 13 October 2017.
Sugar variable tariff increase
On 15 September 2017, Sars published the increase in the rates of customs duty [General, European Union (EU), European Free Trade Association (EFTA), the Southern African Development Community (SADC) and MERCOSUR] on the sugar variable tariff formula from free to 213.1c/ kg. The increase in the rates of customs duty are for tariff subheading 1701.12 (Beet sugar), tariff subheading 1701.13 (Cane sugar specified in Subheading Note 2 to this Chapter), tariff subheading 1701.14 (Other cane sugar), tariff subheading 1701.91 (Containing added flavouring or colouring matter), and tariff subheading 1701.99 (Other).
Container Depot Rule amendment
On 15 September 2017, Sars published the amendment of the Rule 200.08 of the Act, 1964, which substitutes the locations where container depots may be established, specified in the Rule to be Cape Town, Durban, East London, Germiston, Johannesburg, Port Elizabeth, Pretoria, Richards Bay, and Saldanha Bay. Duty Calls - Watch list Comment to ITAC on the proposed creation of a Rebate Item for stainless steel fasteners is due by 22 September 2017.
WTO Members Resume Fisheries Subsidies Negotiations
At the 11 to 12 September informal meeting of the Negotiating Group on Rules (NGR), the World Trade Organisation (WTO) members started to comb through a compilation matrix of seven proposals to limit harmful fisheries subsidies. Line-by-line topical discussions based on the matrix are aimed at paving the way for a well-supported, draft decision text for submission to the WTO’s 11th Ministerial Conference (MC11) in December.
Outward Selling and Investment Mission to Toronto
The dti extended an invitation extended an invitation to participate in the Outward Selling and Investment Mission to Toronto, Canada to take place from 4 to 7 March 2018. The closing date for applications is 29 September 2017.
The dti 2016/17 Annual Report
The dti informed that, on release of its 2016/17 Annual Report, it had obtained clean audit reports from the Auditor General for the 2016/2017 financial year for both the department and most of its agencies. During the year, the dti provided financial support of approximately R7 billion, supporting more than 1 400 companies which will leverage total private sector investment of approximately R30 billion into the South African economy.
