In a Government Gazette dated 25 January 2013 the South African Revenue Service (Sars) announced the insertion of Note 27B to Rebate Item 317.04 in Part 3 of Schedule No.3 to the Customs and Excise Act. Schedule No.3 to the Act is titled “Industrial Rebates of Customs Duties”, and Rebate Item 317.04 is titled “Industry: Specified Motor Vehicles”. Note 27B reads “For the purposes of Notes 27(i)(d) and 27(i)(g) registrants may carry forward any excess value for customs duty purposes of original equipment imported and used in exports during a quarter to – (i) the ensuing quarter; and (ii) such further quarters as the Commissioner may allow in exceptional circumstances”. The amendment is imposed with retrospective effect to 01 October 2012. If you are interested in learning more about any of the articles in this week’s column, please send us an email with the headline of the article in the title.