Remember to insure against duty and VAT

IT IS essential that the duty and VAT on imported goods is properly insured, according to Safcorraport, the forwarder's newsletter.
"Clients could find themselves severely compromised if their insurance policies do not contain specific provisions for these eventualities," it said.
For those importing goods under rebate of duty, it is suggested that you should ensure that both your marine insurance policies and general commercial insurance adequately cover your duty liabilities.
Because, if the goods are lost or damaged in SA, you, as the importer, will be called upon to pay the full duty. This, according to customs' doctrine, because "the goods will not be used for the purpose for which they were originally