Paperless export pilot moves into next phase

Alan Peat PAPERLESS EXPORTS are fast becoming a reality for all. A paperless export pilot project started its roll-out from SA Revenue Services (SARS) on November 15, according to trade consultants Deloitte & Touche. The initial test phase for this pilot project was to run test transactions through the SARS system, testing the routing of the transactions in a controlled environment. This test phase ran until end-November with the second phase, the paperless pilot project, running from December 1. This would then see selected pilot participants being able to submit exports in a paperless environment. And, once the pilot project has proved successful, this will be made available to all accredited clients. In this move to paperless exports, SARS has devised certain changes to the existing export documents Ð that is the DA550 bill of entry (BoE) for exports, its voucher of correction (VOC), and their continuation sheets. Also changes in electronic data interchange (EDI) and “Stiffy” submission forms. SARS has also issued the rules for the completion of the BOEs and VOCs (including added fields), and updated its manual for the completion of export BOEs. It should be noted, said Deloitte & Touche, that all clients, and not just the pilot project participants, must apply the changes. SARS has also announced that the following additional fields have been added to the BOE export (DA550) and VOC: BOE export (DA554):
¥ A unique consignment reference (UCR) - Each exporter is required to generate a UCR per consignment that will be used to control the receipt of export proceeds;
¥ The transaction value (TV) - The TV is the full foreign currency proceeds paid or payable by the purchaser to the exporter for the complete transaction;
¥ An identification of advance payments - where payments are received in advance for the export consignment; Under credit terms, these terms refer to the period between the date of shipment and the anticipated date for the receipt of outstanding payments.