On 06 April 2021, the South African Revenue Service (SARS) announced the release of its updated “Excise External Policy Manage Diesel Refund Calculations”. The Policy applies to Diesel Refund Registrants claiming a refund in terms of Rebate Item 670.04 of Schedule No.6 to the Customs and Excise Act,1964.
The reason for the update is that in his National Budget Speech on 24 February 2021, the Finance Minister announced that the fuel levy increases by 15c per litre and Road Accident Fund (RAF) levy would be increased by 11c per litre respectively, with effect from 7 April 2021; and
The Policy notes that: Diesel refunds cannot be claimed against the carbon fuel levy, but will only be allowed against the general fuel levy component of the fuel levy.
Story by: Riaan de Lange