On 12 February, the South African Revenue Service (SARS) announced the release of the “Excise External Policy Diamond Export Levy”. The “Summary of Main Points” includes:
(a) This policy applies to ‘Producers’, ‘Dealers’, ‘Beneficiator(s)’ or the holder of a permit who imports and exports unpolished diamond(s) from South Africa. It also includes import credits of such diamonds into SA for trade statistic purposes.
(b) This policy does not cover:
(i) Declaration and Return submission via eFiling as these are dealt with in document SE-ACC-02-M02;
(ii) Submission of accounts / returns as this is dealt with in document SE-ACC-05;
(iii) Bonds as these are dealt with in document SE-BON-02;
(iv) The completion of the DL 163 Diamond Export Levy Return as this is dealt with in document SEDEL-03-M01;
(v) Licensing and Registration requirements as these are dealt with in document SE-LR-02;
(vi) Prescribed payment Rules as these are dealt with in document SE-PAY-02;
(vii) SARS Payment Rules as these are dealt with in document GEN-PAYM-01-G01; and
(viii) Refunds as these are dealt with in document SE-REF-02.
Story by: Riaan de Lange