On 17 December 2020, the International Trade Administration Commission of South Africa (ITAC) published its “Extension of policy directive on the expropriation of ferrous and non-ferrous waste and scrap metal.”
In the notice the Trade, Industry and Competition Minister (the dtic) advised that:
(a) On 10 May 2013 the Minister of Economic Development (the Minister) issued a Trade Policy Directive to ITAC in terms of Section 5 of the International Trade Administration Act, 2002 on the exportation of ferrous and non-ferrous waste and scrap metal and subsequently reviewed the Policy Directive.
(b) On 24 May 2019, in the Government Gazette, the Minister extended the Policy Directive for a further period of nine months until 31 March 2020 to enable the National Treasury, the Department of Trade and Industry and the Economic Development Department to explore the introduction of an export tax on ferrous and non-ferrous waste and scrap metal and its implications for the Directive, and subsequently extended the Policy Directive until 31 December 2020.
(c) In the Government Gazette of 23 November 2020 stakeholders and interested parties were invited to submit representations and comments regarding the proposed extension of the Policy Directive.
(d) Following consideration of the matter and comments received, I hereby extend the Policy Directive issued to ITAC in terms of Section 5 of the International Trade Administration Act, 2002 for a period of seven months from 31 December 2020 to 31 July 2021; and
(e) The seven-month extension will allow for -
(i) Work by the South African Revenue Service (SARS) to bring the export tax on ferrous and non-ferrous waste and scrap metal into operation in terms of any applicable taxation law; and
(ii) Consideration by the department and ITAC on which aspects, if any, of the Policy Directive which may be continued in order to complement and support the operation of the export tax on ferrous and non-ferrous waste and scrap metal.
The Notice is accessible at:
https://www.gov.za/sites/default/files/gcis_document/202012/44008gon1367.pdf
Story by: Riaan de Lange
