SARS manual offers advice on ‘in bond’ bills of entry

SA REVENUE Service has posted a manual on its website providing all the information necessary for the acquittal of in bond bills of entry. In terms of the Customs and Excise Act, goods may only be removed in bond in South Africa or the BLNS countries (Botswana, Lesotho, Namibia and Swaziland) or if they are in transit through South Africa or the Southern African Customs Union. “Failure to comply with the acquittal requirements may result in duty, VAT and penalties being charged,” says Deloitte.