Official switch-on of SARB’s electronic export system in sight

The new scheme proposed by the SA Reserve Bank (SARB) to replace the manually prepared Form 178 with an electronic data interchange (EDI) alternative is expected to be rolled out into the marketplace later this year, according to Tom Coetzee, SARB GM in charge of the project. This follows a pilot project where volunteer exporters participated in the electronic monitoring and matching of exports (EME) system. “We have made tremendous strides in the past year in getting exporters involved in the project,” Coetzee told FTW. “And the electronic matching we have been getting from SA Revenue Service (Sars) customs has been extremely good.” When the SARB first proposed the scheme back in 2003, exporters said they’d “all be delighted to see the back of the Form 178”. FTW was told that EME not only allows for a more streamlined process, “but the entire process being simplified and computerised is part of the initiative to do away with paper-based and manual forms.” The new system replaces the old Form 178 – the means until now of matching the physical flow of export goods with the flow of export proceeds or receipts coming into SA. A critical item in EME is the “unique consignment reference (UCR)” number. The theory of this magic number was conceived by the World Customs Organisation (WCO) as paperless exports were fast becoming a reality for all. The SARB uses the UCR to link data from customs on the physical export of goods with reports from the banks on the receipt of payment for these exports. This number must be used when goods are cleared through customs and when receiving payment for the goods via the banking system. Its utter simplicity will replace the current F178 administration, which is a relatively complex and time-consuming task. It has to be completed in triplicate by the exporter/freight agent every time an export leaves this country. The forms are taken to the exporter’s bank (“Authorised Dealer”) where the original is attested (stamped and signed) and returned with a copy. The bank retains a copy for control purposes. Customs requires the original F178 as part of the essential export documentation without which the goods cannot leave the country – and they subsequently pass the form on to the Exchange Control Department of the SARB. It’s been seven years since the scheme was originally conceived, but 2010 at last marks the official switch-on of the system, said Coetzee.